Mizuho Cuts Accenture (NYSE:ACN) Price Target to $348.00

Accenture (NYSE:ACN - Get Free Report) had its target price lowered by stock analysts at Mizuho from $365.00 to $348.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the information technology services provider's stock. Mizuho's price target suggests a potential upside of 17.01% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler reduced their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Guggenheim reduced their price objective on Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday. Wall Street Zen lowered Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Morgan Stanley lowered their price objective on Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, Royal Bank Of Canada reduced their target price on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $370.75.

Accenture Stock Up 0.8%

Shares of NYSE ACN opened at $297.40 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $307.08 and its two-hundred day moving average is $333.04. Accenture has a 52-week low of $273.19 and a 52-week high of $398.35. The firm has a market cap of $186.27 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.85 and a beta of 1.33.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 EPS. Research analysts predict that Accenture will post 12.73 EPS for the current year.

Insider Buying and Selling at Accenture

In other news, General Counsel Joel Unruch sold 3,563 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares of the company's stock, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela Beatty sold 169 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the sale, the insider now owns 5,364 shares of the company's stock, valued at $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Accenture

A number of large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position 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 worth $6,486,000 after purchasing an additional 4,905 shares during the period. Sigma Planning Corp raised its position in Accenture by 3.4% in the fourth quarter. Sigma Planning Corp now owns 2,526 shares of the information technology services provider's stock worth $889,000 after acquiring an additional 83 shares in the last quarter. MONECO Advisors LLC lifted its holdings in Accenture by 26.9% in the fourth quarter. MONECO Advisors LLC now owns 1,713 shares of the information technology services provider's stock valued at $603,000 after acquiring an additional 363 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Accenture during the 4th quarter worth $350,000. Finally, IFP Advisors Inc grew its stake in shares of Accenture by 1.5% during the 4th quarter. IFP Advisors Inc now owns 10,920 shares of the information technology services provider's stock worth $3,841,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors 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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