Accenture (NYSE:ACN) Given New $325.00 Price Target at Morgan Stanley

Accenture (NYSE:ACN - Get Free Report) had its target price lowered by investment analysts at Morgan Stanley from $340.00 to $325.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the information technology services provider's stock. Morgan Stanley's target price would suggest a potential upside of 9.28% from the stock's current price.

ACN has been the subject of several other reports. Royal Bank Of Canada cut their target price on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Mizuho reduced their price objective on Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 19th. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price for the company in a report on Monday, March 17th. UBS Group reiterated a "buy" rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Finally, Benchmark reissued a "mixed" rating on shares of Accenture in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $370.75.

Accenture Price Performance

Accenture stock opened at $297.40 on Tuesday. The stock's fifty day moving average price is $307.08 and its two-hundred day moving average price is $333.04. The firm has a market cap of $186.27 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.85 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. Accenture has a one year low of $273.19 and a one year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. Accenture's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.13 earnings per share. As a group, research analysts expect that Accenture will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Beatty sold 169 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now directly owns 5,364 shares of the company's stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by corporate insiders.

Institutional Trading of Accenture

Several hedge funds have recently bought and sold shares of ACN. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC acquired a new position in Accenture during the 4th quarter valued at about $30,000. Park Square Financial Group LLC bought a new stake in Accenture during the 4th quarter worth approximately $31,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in Accenture during the first quarter worth $31,000. Finally, Inlight Wealth Management LLC bought a new position in Accenture during the 1st quarter valued at $32,000. Institutional investors and hedge funds 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.

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