TD Cowen Cuts Accenture (NYSE:ACN) Price Target to $275.00

Accenture (NYSE:ACNFree Report) had its price objective decreased by TD Cowen from $282.00 to $275.00 in a report published on Monday morning,Benzinga reports. TD Cowen currently has a buy rating on the information technology services provider’s stock.

A number of other equities analysts have also recently weighed in on ACN. Truist Financial lowered their price target on Accenture from $317.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Wells Fargo & Company upped their target price on shares of Accenture from $251.00 to $275.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada set a $300.00 target price on shares of Accenture in a research note on Thursday, December 18th. Wolfe Research lifted their price target on shares of Accenture from $300.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Finally, HSBC upped their price objective on shares of Accenture from $215.00 to $235.00 in a report on Friday, December 19th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $286.19.

Check Out Our Latest Research Report on Accenture

Accenture Trading Down 2.0%

ACN opened at $194.77 on Monday. The stock has a market capitalization of $119.90 billion, a PE ratio of 16.10, a P/E/G ratio of 1.88 and a beta of 1.27. Accenture has a one year low of $188.73 and a one year high of $326.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41. The business’s 50 day moving average price is $237.56 and its 200 day moving average price is $247.47.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Thursday, December 18th. The information technology services provider reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.21. Accenture had a return on equity of 26.65% and a net margin of 10.76%.The company had revenue of $18.74 billion during the quarter, compared to analysts’ expectations of $18.51 billion. During the same quarter last year, the firm earned $3.59 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Accenture will post 12.73 EPS for the current year.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 3,588 shares of Accenture stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $281.01, for a total value of $1,008,263.88. Following the completion of the transaction, the chief accounting officer owned 8,179 shares in the company, valued at approximately $2,298,380.79. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John F. Walsh sold 3,986 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $276.38, for a total transaction of $1,101,650.68. Following the sale, the chief executive officer owned 27,221 shares in the company, valued at approximately $7,523,339.98. This trade represents a 12.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 22,088 shares of company stock valued at $5,970,434. 0.02% of the stock is owned by company insiders.

Institutional Trading of Accenture

A number of large investors have recently modified their holdings of ACN. Brighton Jones LLC raised its position 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 valued at $6,486,000 after purchasing an additional 4,905 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Accenture by 46.9% during the second quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock worth $618,000 after buying an additional 660 shares during the period. United Bank raised its holdings in Accenture by 49.8% in the second quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock valued at $1,088,000 after acquiring an additional 1,209 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in Accenture by 12.2% in the second quarter. Foundations Investment Advisors LLC now owns 2,316 shares of the information technology services provider’s stock valued at $692,000 after acquiring an additional 252 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Accenture by 2.7% in the second quarter. Cetera Investment Advisers now owns 138,443 shares of the information technology services provider’s stock worth $41,379,000 after acquiring an additional 3,646 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Key Accenture News

Here are the key news stories impacting Accenture this week:

Accenture Company Profile

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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.

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Analyst Recommendations for Accenture (NYSE:ACN)

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