Accenture (NYSE:ACN) Price Target Increased to $365.00 by Analysts at Mizuho

Accenture (NYSE:ACN) had its price target lifted by Mizuho from $352.00 to $365.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently commented on ACN. BMO Capital Markets lowered their price target on shares of Accenture from $375.00 to $350.00 and set a market perform rating on the stock in a report on Friday, June 21st. The Goldman Sachs Group initiated coverage on Accenture in a research note on Monday, June 24th. They issued a neutral rating and a $335.00 target price on the stock. Susquehanna cut their price target on Accenture from $360.00 to $350.00 and set a neutral rating for the company in a research note on Friday, June 21st. Citigroup upped their price objective on shares of Accenture from $350.00 to $405.00 and gave the company a buy rating in a report on Tuesday. Finally, Stifel Nicolaus reduced their target price on shares of Accenture from $395.00 to $340.00 and set a buy rating for the company in a research note on Wednesday, June 12th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $355.59.

Accenture Stock Performance

Shares of NYSE ACN opened at $336.17 on Wednesday. The firm’s 50-day simple moving average is $330.75 and its 200 day simple moving average is $322.68. The stock has a market cap of $210.68 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.82 and a beta of 1.24. Accenture has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). The firm had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. On average, sell-side analysts predict that Accenture will post 11.95 EPS for the current year.

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock worth $6,912,635 in the last three months. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TrinityPoint Wealth LLC lifted its position in Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after buying an additional 125 shares during the period. Focus Financial Network Inc. ADV bought a new position in shares of Accenture during the fourth quarter valued at approximately $4,594,000. New Mexico Educational Retirement Board increased its position in Accenture by 11.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after buying an additional 3,900 shares in the last quarter. Platform Technology Partners boosted its holdings in Accenture by 7.0% in the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after acquiring an additional 131 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Accenture by 13.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after acquiring an additional 21,516 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

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.