Accenture (NYSE:ACN) PT Raised to $329.00 at Piper Sandler

Accenture (NYSE:ACN) had its target price increased by Piper Sandler from $320.00 to $329.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the company. Barclays reduced their price target on Accenture from $390.00 to $350.00 and set an overweight rating for the company in a research report on Monday, June 17th. Susquehanna reduced their price target on Accenture from $360.00 to $350.00 and set a neutral rating for the company in a research report on Friday, June 21st. Jefferies Financial Group reduced their price target on Accenture from $340.00 to $275.00 and set a hold rating for the company in a research report on Wednesday, June 5th. UBS Group upgraded Accenture from a neutral rating to a buy rating and set a $400.00 target price for the company in a research report on Friday, July 19th. Finally, TD Cowen boosted their target price on Accenture from $293.00 to $321.00 and gave the stock a hold rating in a research report on Thursday, September 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Accenture has a consensus rating of Moderate Buy and a consensus price target of $356.41.

Accenture Price Performance

Shares of ACN opened at $336.22 on Friday. The firm has a market cap of $210.71 billion, a PE ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. The stock’s fifty day moving average price is $332.01 and its two-hundred day moving average price is $321.64. Accenture has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (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 the consensus estimate of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 earnings per share. Sell-side analysts anticipate that Accenture will post 11.95 earnings per share for the current fiscal year.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. In the last three months, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Accenture by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock valued at $20,699,110,000 after purchasing an additional 635,349 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Accenture by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,912,962 shares of the information technology services provider’s stock valued at $3,311,102,000 after purchasing an additional 131,544 shares during the last quarter. Capital Research Global Investors raised its position in Accenture by 2.0% during the 1st quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock valued at $2,999,056,000 after purchasing an additional 173,107 shares during the last quarter. Legal & General Group Plc raised its position in Accenture by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 5,887,266 shares of the information technology services provider’s stock valued at $1,786,256,000 after purchasing an additional 80,514 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Accenture by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,797,028 shares of the information technology services provider’s stock worth $1,316,086,000 after acquiring an additional 148,738 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.