Accenture (NYSE:ACN) Given New $353.00 Price Target at JPMorgan Chase & Co.

Accenture (NYSE:ACN - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $349.00 to $353.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the information technology services provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 11.89% from the company's previous close.

Several other analysts have also recently issued reports on the stock. Robert W. Baird upgraded shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a research note on Monday, March 17th. Piper Sandler cut their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Mizuho lowered their target price on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley decreased their price target on shares of Accenture from $372.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Wall Street Zen downgraded Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $380.00.

Accenture Stock Down 0.8%

ACN stock opened at $315.49 on Monday. The stock's 50 day moving average is $305.50 and its 200-day moving average is $335.40. Accenture has a twelve month low of $275.01 and a twelve month high of $398.35. The firm has a market capitalization of $197.60 billion, a PE ratio of 26.12, a P/E/G ratio of 3.23 and a beta of 1.33. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.77 EPS. Sell-side analysts expect that Accenture will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer now directly owns 15,882 shares of the company's stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 3,563 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the sale, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 over the last three months. 0.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accenture

A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Accenture by 36.2% during the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after acquiring an additional 4,905 shares during the period. Congress Asset Management Co. increased its stake in Accenture by 1.3% in the 4th quarter. Congress Asset Management Co. now owns 68,296 shares of the information technology services provider's stock worth $24,026,000 after buying an additional 886 shares during the period. Principal Securities Inc. lifted its holdings in Accenture by 24.0% during the 4th quarter. Principal Securities Inc. now owns 16,300 shares of the information technology services provider's stock valued at $5,734,000 after buying an additional 3,160 shares in the last quarter. Allworth Financial LP grew its stake in Accenture by 16.2% in the 4th quarter. Allworth Financial LP now owns 13,733 shares of the information technology services provider's stock worth $4,932,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Accenture during the fourth quarter valued at approximately $189,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

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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