Accenture (NYSE:ACN) Stock Rating Lowered by Truist Financial

Accenture (NYSE:ACN) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $210.00 price target on the information technology services provider’s stock. Truist Financial’s price target would suggest a potential upside of 12.11% from the stock’s current price.

ACN has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, March 20th. TD Cowen dropped their price objective on shares of Accenture from $282.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Royal Bank Of Canada dropped their price objective on shares of Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Accenture from $280.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, March 6th. Finally, Piper Sandler set a $282.00 price objective on shares of Accenture in a report on Thursday, March 5th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $272.58.

Accenture Stock Up 0.1%

NYSE:ACN opened at $187.32 on Monday. The company has a market cap of $124.65 billion, a PE ratio of 15.34, a P/E/G ratio of 1.77 and a beta of 1.09. Accenture has a twelve month low of $155.82 and a twelve month high of $321.77. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $185.71 and its two-hundred day moving average is $226.37.

Accenture (NYSE:ACN) last released its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. Accenture’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. Analysts anticipate that Accenture will post 13.87 EPS for the current year.

Insider Transactions at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Accenture

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Accenture by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider’s stock valued at $17,726,831,000 after purchasing an additional 854,361 shares in the last quarter. State Street Corp lifted its holdings in Accenture by 0.5% during the fourth quarter. State Street Corp now owns 28,264,675 shares of the information technology services provider’s stock valued at $7,583,462,000 after purchasing an additional 129,610 shares in the last quarter. Capital International Investors lifted its holdings in Accenture by 2.0% during the fourth quarter. Capital International Investors now owns 17,471,554 shares of the information technology services provider’s stock valued at $4,687,867,000 after purchasing an additional 343,420 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Accenture by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider’s stock valued at $3,922,212,000 after purchasing an additional 218,719 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Accenture by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider’s stock valued at $2,869,199,000 after purchasing an additional 546,198 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

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.