Accenture (NYSE:ACN) Price Target 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 report published on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the information technology services provider’s stock.

Several other analysts have also recently commented on ACN. Jefferies Financial Group decreased their target price on Accenture from $340.00 to $275.00 and set a hold rating for the company in a research report on Wednesday, June 5th. Citigroup lifted their target price on Accenture from $350.00 to $405.00 and gave the company a buy rating in a research note on Tuesday, September 17th. Morgan Stanley cut shares of Accenture from an overweight rating to an equal weight rating and decreased their price target for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. UBS Group upgraded shares of 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, BMO Capital Markets dropped their price target on shares of Accenture from $375.00 to $350.00 and set a market perform rating on the stock in a research note on Friday, June 21st. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $356.41.

Accenture Price Performance

Shares of ACN opened at $339.18 on Friday. Accenture has a one year low of $278.69 and a one year high of $387.51. The company has a 50-day moving average of $332.44 and a two-hundred day moving average of $321.31. The stock has a market cap of $212.56 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 3.82 and a beta of 1.24.

Insiders Place Their Bets

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 value 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 legal filing with the SEC, which is available at this hyperlink. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock worth $6,912,635 in the last ninety days. Insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Accenture by 1.2% in 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 buying an additional 131,544 shares during the last quarter. Capital Research Global Investors lifted 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 worth $2,999,056,000 after buying an additional 173,107 shares in the last quarter. Legal & General Group Plc grew its holdings 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 worth $1,786,256,000 after acquiring an additional 80,514 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in 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 valued at $1,316,086,000 after acquiring an additional 148,738 shares in the last quarter. 75.14% of the stock is currently 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.