HSBC Has Lowered Expectations for Accenture (NYSE:ACN) Stock Price

Key Points

• HSBC cut its price target on Accenture to $210 from $220 and maintained a "hold" rating, implying about a 9.1% upside from the prior close.
• The analyst consensus remains a Moderate Buy with 18 buys and 10 holds and a consensus price target of $274.50, significantly higher than HSBC's target.
• Accenture recently beat quarterly expectations (EPS $2.93 vs. $2.84; revenue $18.04B vs. $17.80B), with revenue up 7.8% year‑over‑year.

Accenture (NYSE:ACN - Get Free Report) had its target price decreased by research analysts at HSBC from $220.00 to $210.00 in a report released on Tuesday,MarketScreener reports. The firm currently has a "hold" rating on the information technology services provider's stock. HSBC's target price points to a potential upside of 9.09% from the company's previous close.

ACN has been the topic of a number of other research reports. Jefferies Financial Group raised their target price on Accenture from $270.00 to $280.00 and gave the company a "hold" rating in a report on Thursday, January 8th. Argus decreased their price target on Accenture from $370.00 to $335.00 and set a "buy" rating for the company in a report on Monday, December 29th. Guggenheim lowered their price target on Accenture from $275.00 to $250.00 and set a "buy" rating for the company in a research report on Friday, March 20th. Rothschild & Co Redburn increased their target price on shares of Accenture from $205.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $330.00 price target on shares of Accenture in a research report on Thursday, December 18th. Eighteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of "Moderate Buy" and a consensus price target of $274.50.

Accenture Stock Performance

ACN opened at $192.50 on Tuesday. Accenture has a 1-year low of $177.50 and a 1-year high of $325.71. The company has a market cap of $128.10 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.70 and a beta of 1.24. The company's fifty day moving average price is $207.80 and its two-hundred day moving average price is $241.23. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that Accenture will post 12.73 EPS for the current fiscal year.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 3,588 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $281.01, for a total transaction of $1,008,263.88. Following the completion of the transaction, the chief accounting officer directly owned 8,179 shares of the company's stock, valued at approximately $2,298,380.79. This represents a 30.49% 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, CEO Julie Spellman Sweet sold 6,057 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the sale, the chief executive officer directly owned 15,255 shares of the company's stock, valued at $3,679,963.65. This represents a 28.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 20,256 shares of company stock worth $5,464,134. 0.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Accenture

Several large investors have recently added to or reduced their stakes in ACN. Brighton Jones LLC boosted its holdings in Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock worth $6,486,000 after buying an additional 4,905 shares during the period. Sivia Capital Partners LLC raised its holdings in Accenture by 46.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider's stock valued at $618,000 after acquiring an additional 660 shares during the period. United Bank lifted its position in shares of Accenture by 49.8% during the second quarter. United Bank now owns 3,639 shares of the information technology services provider's stock worth $1,088,000 after acquiring an additional 1,209 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Accenture by 23.0% in the second quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider's stock worth $247,000 after acquiring an additional 155 shares during the period. Finally, Main Street Financial Solutions LLC raised its stake in shares of Accenture by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider's stock valued at $528,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 75.14% of the company's stock.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.