Accenture (NYSE:ACN) Given New $255.00 Price Target at Rothschild & Co Redburn

Accenture (NYSE:ACN) had its price target boosted by Rothschild & Co Redburn from $250.00 to $255.00 in a report issued on Friday,MarketScreener reports.

A number of other equities analysts have also issued reports on the company. Susquehanna lowered their price target on Accenture from $330.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday. Benchmark reaffirmed a “mixed” rating on shares of Accenture in a report on Friday, June 20th. Stifel Nicolaus reduced their price objective on shares of Accenture from $355.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Barclays dropped their price objective on Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a report on Monday, June 23rd. Finally, Rothschild Redb cut Accenture from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $335.61.

Accenture Price Performance

NYSE ACN traded up $1.62 during mid-day trading on Friday, hitting $241.32. The stock had a trading volume of 258,910 shares, compared to its average volume of 3,652,192. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The firm’s 50 day moving average is $257.73 and its 200 day moving average is $289.02. Accenture has a twelve month low of $234.18 and a twelve month high of $398.35. The stock has a market capitalization of $151.15 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.07 and a beta of 1.29.

Accenture (NYSE:ACN) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the prior year, the business earned $3.13 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Accenture will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the sale, the chief executive officer directly owned 8,109 shares in the company, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 203 shares of Accenture stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the transaction, the insider owned 5,249 shares of the company’s stock, valued at $1,482,002.66. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,954 shares of company stock worth $834,280 in the last three months. 0.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accenture

A number of institutional investors have recently made changes to their positions in ACN. Park Square Financial Group LLC bought a new stake in Accenture during the 4th quarter valued at $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Accenture in the 4th quarter worth approximately $34,000. Kelly Lawrence W & Associates Inc. CA bought a new position in Accenture in the 1st quarter valued at approximately $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Accenture during the 1st quarter valued at about $32,000. Finally, RMG Wealth Management LLC purchased a new position in Accenture in the second quarter worth about $33,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.