Accenture (NYSE:ACN) Stock Price Expected to Rise, Rothschild & Co Redburn Analyst Says

Accenture (NYSE:ACN) had its target price boosted by equities research analysts at Rothschild & Co Redburn from $250.00 to $255.00 in a research report issued on Friday,MarketScreener reports. Rothschild & Co Redburn’s price objective points to a potential upside of 6.32% from the company’s previous close.

ACN has been the subject of several other reports. HSBC assumed coverage on shares of Accenture in a research report on Monday, July 28th. They set a “reduce” rating and a $240.00 target price for the company. Morgan Stanley cut their price objective on Accenture from $325.00 to $271.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 9th. Benchmark reaffirmed a “mixed” rating on shares of Accenture in a report on Friday, June 20th. Rothschild Redb cut Accenture from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Susquehanna dropped their price objective on Accenture from $330.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $335.61.

Accenture Stock Performance

ACN traded up $0.15 on Friday, reaching $239.85. The company had a trading volume of 573,294 shares, compared to its average volume of 3,652,192. The company’s fifty day moving average is $257.73 and its 200 day moving average is $289.02. Accenture has a fifty-two week low of $234.18 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market cap of $150.23 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.07 and a beta of 1.29.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $3.13 earnings per share. As a group, analysts predict that Accenture will post 12.73 earnings per share for the current fiscal year.

Insider Activity at Accenture

In other news, CEO Julie Spellman Sweet sold 2,251 shares of the company’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the transaction, the chief executive officer directly owned 8,109 shares in the company, valued at approximately $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mauro Macchi sold 500 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the transaction, the chief executive officer directly owned 2,283 shares in the company, valued at $644,582.22. This trade represents a 17.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,954 shares of company stock worth $834,280. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Accenture

Several institutional investors have recently bought and sold shares of the stock. Park Square Financial Group LLC bought a new stake in Accenture during the 4th quarter valued at about $31,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in Accenture during the first quarter valued at $31,000. Inlight Wealth Management LLC acquired a new stake in shares of Accenture in the first quarter valued at about $32,000. RMG Wealth Management LLC acquired a new stake in shares of Accenture during the second quarter valued at about $33,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $34,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Company Profile

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.