Accenture (NYSE:ACN) Given New $335.00 Price Target at Guggenheim

Accenture (NYSE:ACN - Get Free Report) had its price objective lowered by Guggenheim from $360.00 to $335.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the information technology services provider's stock. Guggenheim's price objective suggests a potential upside of 14.99% from the company's previous close.

Several other analysts also recently issued reports on ACN. Benchmark reissued a "mixed" rating on shares of Accenture in a report on Friday. Wall Street Zen cut shares of Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. BMO Capital Markets lowered their target price on Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a report on Monday. Barclays dropped their price target on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $374.00.

Accenture Stock Up 2.1%

Shares of ACN traded up $5.96 during mid-day trading on Monday, reaching $291.33. 1,475,388 shares of the stock traded hands, compared to its average volume of 3,295,865. The firm has a market cap of $182.47 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 2.85 and a beta of 1.33. The stock has a fifty day simple moving average of $306.98 and a 200 day simple moving average of $333.51. The company has a quick ratio of 1.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture has a 12-month low of $273.19 and a 12-month high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business's revenue 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. Sell-side analysts expect that Accenture will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling at Accenture

In related news, insider Angela Beatty sold 169 shares of the 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 transaction, the insider now owns 5,364 shares of the company's stock, valued at $1,512,111.60. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 3,563 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total value of $1,003,982.14. Following the completion of the sale, the general counsel now directly owns 17,237 shares in the company, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock valued at $2,507,366 in the last ninety days. Company insiders own 0.02% of the company's stock.

Institutional Investors Weigh In On Accenture

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Vanguard Group Inc. grew its position in shares of Accenture by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 63,814,234 shares of the information technology services provider's stock worth $19,912,594,000 after buying an additional 3,419,577 shares during the period. Geode Capital Management LLC boosted its position in Accenture by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock worth $4,750,021,000 after acquiring an additional 136,665 shares during the last quarter. Capital Research Global Investors increased its stake in Accenture by 16.8% in the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after buying an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP raised its holdings in Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock worth $4,283,225,000 after acquiring an additional 2,260,740 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Accenture by 63.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,953,621 shares of the information technology services provider's stock valued at $2,793,889,000 after buying an additional 3,490,569 shares during the last quarter. 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.

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