Stifel Nicolaus Cuts Accenture (NYSE:ACN) Price Target to $380.00

Accenture (NYSE:ACN) had its price objective trimmed by Stifel Nicolaus from $390.00 to $380.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Several other equities research analysts have also recently commented on the stock. Piper Sandler boosted their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Robert W. Baird restated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Down 1.3 %

NYSE:ACN opened at $358.32 on Wednesday. Accenture has a 1 year low of $278.69 and a 1 year high of $398.35. The stock has a 50-day moving average price of $367.94 and a two-hundred day moving average price of $357.33. The stock has a market cap of $224.23 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.27 EPS. As a group, equities analysts expect that Accenture will post 12.73 earnings per share for the current year.

Insider Transactions at Accenture

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

Hedge Funds Weigh In On Accenture

Institutional investors and hedge funds have recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in Accenture in the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. lifted its holdings in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the third quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the fourth quarter worth about $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Accenture in the 4th quarter worth about $30,000. Institutional investors and hedge funds 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.