BMO Capital Markets Lowers Accenture (NYSE:ACN) Price Target to $370.00

Accenture (NYSE:ACN) had its price objective reduced by investment analysts at BMO Capital Markets from $425.00 to $370.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the information technology services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 13.41% from the company’s current price.

ACN has been the subject of a number of other reports. Stifel Nicolaus dropped their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley reduced their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Monday. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a research note on Monday. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $385.65.

Accenture Trading Up 2.3 %

ACN stock opened at $326.25 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture has a 1-year low of $278.69 and a 1-year high of $398.35. The business has a 50 day simple moving average of $362.51 and a two-hundred day simple moving average of $358.14. The company has a market capitalization of $204.16 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.27 EPS. Research analysts anticipate that Accenture will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling at Accenture

In related news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last three months. Insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Accenture

Large investors have recently modified their holdings of the business. Visionary Wealth Advisors boosted its position in shares of Accenture by 3.5% in the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock worth $274,000 after buying an additional 26 shares in the last quarter. Vivaldi Capital Management LP grew its stake in Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock worth $292,000 after acquiring an additional 27 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after buying an additional 28 shares during the period. FPC Investment Advisory Inc. lifted its holdings in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the period. Finally, Tradition Wealth Management LLC boosted its holdings in shares of Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after purchasing an additional 29 shares during the last quarter. 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.