Accenture (NYSE:ACN) Price Target Lowered to $285.00 at Wolfe Research

Key Points

• Wolfe Research has lowered its price target for Accenture from $290.00 to $285.00, maintaining an "outperform" rating which suggests a potential upside of 19.18% from the previous close.
• Accenture reported earnings of $3.49 per share for the last quarter, exceeding expectations and marking a 7.7% year-over-year revenue increase.
• Insider trading at Accenture saw CEO Mauro Macchi sell 500 shares at approximately $282.34, reducing his holdings by 17.97%.

Accenture (NYSE:ACN - Get Free Report) had its price target decreased by investment analysts at Wolfe Research from $290.00 to $285.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has an "outperform" rating on the information technology services provider's stock. Wolfe Research's price objective would suggest a potential upside of 19.18% from the company's previous close.

ACN has been the topic of a number of other research reports. Hsbc Global Res upgraded Accenture to a "moderate sell" rating in a report on Monday, July 28th. Stifel Nicolaus dropped their target price on shares of Accenture from $355.00 to $315.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Morgan Stanley dropped their price objective on shares of Accenture from $325.00 to $271.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 9th. Susquehanna lowered their target price on Accenture from $330.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday, September 18th. Finally, BMO Capital Markets cut their price target on Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $329.52.

Accenture Price Performance

Shares of NYSE:ACN opened at $239.13 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $256.92 and a 200 day moving average price of $288.31. Accenture has a 52 week low of $234.18 and a 52 week high of $398.35. The company has a market cap of $149.78 billion, a P/E ratio of 19.07, a PEG ratio of 2.07 and a beta of 1.30.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion for 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%.The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 earnings per share. Research analysts predict that Accenture will post 12.73 earnings per share for the current year.

Insider Transactions at Accenture

In other news, insider Angela Beatty sold 203 shares of Accenture stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the transaction, the insider directly owned 5,249 shares in the company, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mauro Macchi sold 500 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the transaction, the chief executive officer directly owned 2,283 shares of the company's stock, valued at $644,582.22. This represents a 17.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,954 shares of company stock valued at $834,280. Company insiders own 0.02% of the company's stock.

Institutional Trading of Accenture

A number of hedge funds and other institutional investors have recently made changes to their positions in ACN. Park Square Financial Group LLC purchased a new position in Accenture in the 4th quarter worth about $31,000. Capital A Wealth Management LLC acquired a new position in Accenture in the 4th quarter worth approximately $34,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Accenture during the 1st quarter valued at $31,000. Inlight Wealth Management LLC acquired a new stake in shares of Accenture in the first quarter worth $32,000. Finally, RMG Wealth Management LLC acquired a new position in Accenture during the second quarter valued at $33,000. 75.14% of the stock is currently owned by 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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