Accenture (NYSE:ACN) PT Raised to $321.00

Accenture (NYSE:ACN) had its price target increased by TD Cowen from $293.00 to $321.00 in a report published on Thursday, Benzinga reports. The firm currently has a hold rating on the information technology services provider’s stock.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets reduced their price target on Accenture from $375.00 to $350.00 and set a market perform rating on the stock in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their price target on shares of Accenture from $330.00 to $376.00 and gave the stock an overweight rating in a report on Friday, September 6th. Bank of America decreased their price objective on shares of Accenture from $419.00 to $365.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Robert W. Baird dropped their target price on shares of Accenture from $372.00 to $345.00 and set a neutral rating on the stock in a report on Thursday, May 16th. Finally, Wedbush lowered their price objective on Accenture from $400.00 to $350.00 and set an outperform rating for the company in a research report on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Accenture currently has an average rating of Moderate Buy and a consensus target price of $354.68.

Accenture Stock Down 0.1 %

Shares of ACN opened at $349.58 on Thursday. The business has a 50-day simple moving average of $328.08 and a two-hundred day simple moving average of $323.04. Accenture has a 12-month low of $278.69 and a 12-month high of $387.51. The stock has a market cap of $219.08 billion, a PE ratio of 32.01, a PEG ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter last year, the business earned $3.19 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Accenture will post 11.95 EPS for the current year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, July 11th. Accenture’s dividend payout ratio is presently 47.25%.

Insider Activity at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of Accenture 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accenture

Several institutional investors have recently made changes to their positions in ACN. Unique Wealth Strategies LLC bought a new position in shares of Accenture in the second quarter valued at approximately $26,000. Annapolis Financial Services LLC grew its position in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Accenture in the second quarter worth $28,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Accenture in the fourth quarter worth $29,000. Finally, Atwood & Palmer Inc. boosted its stake in Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

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.