Accenture (NYSE:ACN) Price Target Cut to $325.00 by Analysts at BMO Capital Markets

Accenture (NYSE:ACN) had its price target dropped by equities researchers at BMO Capital Markets from $355.00 to $325.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the information technology services provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 13.77% from the stock’s current price.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. 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 report on Wednesday, March 19th. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $349.00 to $353.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Finally, Piper Sandler lowered their target price on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $378.50.

Accenture Price Performance

ACN stock opened at $285.66 on Monday. The business has a fifty day moving average of $306.98 and a two-hundred day moving average of $333.51. The stock has a market cap of $178.92 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.85 and a beta of 1.33. Accenture has a 52-week low of $273.19 and a 52-week high of $398.35. 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 (NYSE:ACN) last issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.17. The company 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%. Accenture’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.13 EPS. As a group, research analysts anticipate that Accenture will post 12.73 earnings per share for the current year.

Insider Buying and Selling at Accenture

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John F. Walsh sold 2,500 shares of the firm’s stock in a transaction on 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 in the company, valued at $5,161,650. The trade was a 13.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock valued at $2,507,366 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Accenture

Institutional investors have recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Accenture in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new position in Accenture in the fourth quarter valued at about $30,000. Park Square Financial Group LLC bought a new position in Accenture in the fourth quarter valued at approximately $31,000. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Accenture in the 1st quarter valued at $31,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Accenture in the first quarter worth about $32,000. 75.14% of the stock is currently owned by institutional investors.

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.