Accenture (NYSE:ACN) PT Lowered to $293.00

Accenture (NYSE:ACN) had its price objective decreased by investment analysts at TD Cowen from $294.00 to $293.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the information technology services provider’s stock. TD Cowen’s price target points to a potential downside of 5.17% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Mizuho reduced their price objective on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Citigroup reduced their price objective on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Piper Sandler Companies reduced their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Bank of America reduced their price target on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Accenture from a “buy” rating to a “hold” rating and reduced their price target for the stock from $409.00 to $295.00 in a research report on Wednesday, May 15th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.09.

Accenture Stock Performance

Shares of NYSE ACN opened at $308.98 on Friday. The firm has a market capitalization of $207.25 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.35 and a beta of 1.21. The stock has a 50 day moving average price of $301.15 and a 200 day moving average price of $337.27. Accenture has a 52-week low of $278.69 and a 52-week high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $3.19 EPS. Analysts forecast that Accenture will post 12 earnings per share for the current year.

Insider Buying and Selling at Accenture

In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the sale, the chief financial officer now directly owns 42,781 shares in the company, valued at $13,518,796. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACN. Norges Bank purchased a new position in Accenture in the 4th quarter valued at about $2,061,490,000. Swedbank AB acquired a new stake in Accenture in the 1st quarter valued at about $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Accenture by 100.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after acquiring an additional 875,723 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in Accenture in the 4th quarter valued at about $288,168,000. Finally, Generation Investment Management LLP acquired a new stake in Accenture in the 4th quarter valued at about $286,220,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

About Accenture

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.