Accenture (NYSE:ACN) PT Lowered to $350.00 at Mizuho

Accenture (NYSE:ACN) had its target price trimmed by Mizuho from $398.00 to $350.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Several other research analysts also recently weighed in on the stock. Citigroup dropped their target price on shares of Accenture from $430.00 to $400.00 and set a buy rating for the company in a report on Friday, March 22nd. Piper Sandler dropped their target price on shares of Accenture from $379.00 to $320.00 and set a neutral rating for the company in a report on Monday. BMO Capital Markets dropped their price objective on shares of Accenture from $385.00 to $375.00 and set a market perform rating for the company in a report on Friday, March 22nd. Wedbush dropped their price objective on shares of Accenture from $400.00 to $350.00 and set an outperform rating for the company in a report on Wednesday, June 12th. Finally, StockNews.com downgraded shares of Accenture from a buy rating to a hold rating in a report on Saturday, April 27th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $360.50.

Accenture Price Performance

NYSE:ACN opened at $285.34 on Tuesday. The firm has a market capitalization of $191.39 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 3.12 and a beta of 1.22. Accenture has a one year low of $278.69 and a one year high of $387.51. The business has a fifty day moving average price of $302.44 and a 200-day moving average price of $338.04.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. Accenture’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.69 EPS. On average, equities research analysts expect that Accenture will post 12.08 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were given a dividend of $1.29 per share. The ex-dividend date was Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.81%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders sold 28,083 shares of company stock worth $8,959,325 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Institutional Trading of Accenture

Institutional investors and hedge funds have recently modified their holdings of the stock. Chilton Capital Management LLC raised its stake in shares of Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Accenture during the fourth quarter valued at approximately $27,000. Annapolis Financial Services LLC raised its stake in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Accenture in the fourth quarter worth approximately $29,000. Finally, Atwood & Palmer Inc. raised its stake in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares in the last quarter. 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.