Accenture (NYSE:ACN) PT Raised to $365.00 at Mizuho

Accenture (NYSE:ACN) had its price objective raised by research analysts at Mizuho from $352.00 to $365.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price target would suggest a potential upside of 8.88% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. TD Cowen lifted their price target on shares of Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research report on Thursday, September 12th. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a report on Friday, July 19th. Stifel Nicolaus dropped their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Jefferies Financial Group reduced their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Finally, Susquehanna dropped their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $355.59.

Accenture Trading Down 0.3 %

Shares of Accenture stock opened at $335.24 on Wednesday. The business has a 50-day moving average price of $331.50 and a two-hundred day moving average price of $322.77. Accenture has a 1-year low of $278.69 and a 1-year high of $387.51. The company has a market cap of $210.09 billion, a P/E ratio of 30.70, a PEG ratio of 3.82 and a beta of 1.24.

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 company had revenue of $16.47 billion for 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 firm’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 earnings per share. Equities research analysts forecast that Accenture will post 11.95 EPS for the current fiscal year.

Insider Activity at Accenture

In related news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the transaction, the chief financial officer now directly owns 38,570 shares in the company, valued at approximately $12,149,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on 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 sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now owns 38,570 shares of the company’s stock, valued at $12,149,550. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,421 shares of company stock worth $6,912,635. Company insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

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