Accenture (NYSE:ACN) Price Target Lowered to $392.00 at Royal Bank of Canada

Accenture (NYSE:ACN) had its price objective dropped by equities researchers at Royal Bank of Canada from $399.00 to $392.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the information technology services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 29.40% from the stock’s current price.

A number of other research firms also recently issued reports on ACN. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a report on Monday. Piper Sandler dropped their target price on Accenture from $396.00 to $364.00 and set an “overweight” rating on the stock in a research report on Thursday. BMO Capital Markets cut their price target on shares of Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a report on Tuesday. Finally, Morgan Stanley decreased their price objective on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $380.05.

Accenture Trading Up 0.7 %

Accenture stock traded up $2.02 during midday trading on Friday, reaching $302.93. The stock had a trading volume of 2,888,997 shares, compared to its average volume of 2,773,718. Accenture has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $189.57 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 3.23 and a beta of 1.24. The firm’s fifty day simple moving average is $360.05 and its two-hundred day simple moving average is $357.39.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.77 earnings per share. Equities analysts anticipate that Accenture will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 over the last three months. 0.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACN. Morse Asset Management Inc bought a new position in shares of Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. raised its position in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Accenture during the 4th quarter worth $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter valued at $30,000. Finally, POM Investment Strategies LLC raised its position in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the last quarter. 75.14% of the stock is owned by 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.