Accenture (NYSE:ACN) PT Raised to $415.00

Accenture (NYSE:ACN) had its price objective hoisted by analysts at Barclays from $350.00 to $415.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price objective would indicate a potential upside of 17.88% from the company’s current price.

A number of other equities research analysts also recently commented on ACN. Jefferies Financial Group dropped their price objective on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a report on Wednesday, June 5th. Wedbush cut their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Piper Sandler upgraded shares of Accenture from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $329.00 to $395.00 in a report on Thursday, September 26th. Royal Bank of Canada increased their target price on shares of Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus decreased their price target on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $371.18.

Accenture Trading Down 0.4 %

Shares of NYSE:ACN opened at $352.04 on Monday. The stock has a market capitalization of $220.62 billion, a P/E ratio of 32.24, a P/E/G ratio of 3.69 and a beta of 1.24. Accenture has a 1-year low of $278.69 and a 1-year high of $387.51. The business has a 50-day moving average price of $334.79 and a two-hundred day moving average price of $320.07.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.01. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the business posted $2.71 earnings per share. Accenture’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Accenture will post 11.95 EPS for the current year.

Accenture declared that its Board of Directors has approved a stock buyback program on Thursday, September 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction on 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 transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of 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. Over the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. Corporate insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. 9258 Wealth Management LLC raised its position in shares of Accenture by 3.6% in the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $459,000 after purchasing an additional 46 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Accenture in the 4th quarter valued at about $1,776,000. Jones Financial Companies Lllp lifted its position in Accenture by 19.4% during the fourth quarter. Jones Financial Companies Lllp now owns 17,892 shares of the information technology services provider’s stock worth $6,278,000 after acquiring an additional 2,903 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of Accenture by 43.1% in the fourth quarter. CWA Asset Management Group LLC now owns 11,444 shares of the information technology services provider’s stock valued at $4,016,000 after purchasing an additional 3,445 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Accenture by 2.3% during the fourth quarter. Peapack Gladstone Financial Corp now owns 53,155 shares of the information technology services provider’s stock worth $18,653,000 after purchasing an additional 1,200 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

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.