Accenture (NYSE:ACN - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.
A number of other research firms also recently issued reports on ACN. Robert W. Baird lifted their price objective on shares of Accenture from $350.00 to $370.00 and gave the stock a "neutral" rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut their price objective on Accenture from $376.00 to $370.00 and set an "overweight" rating for the company in a report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on Accenture from $377.00 to $389.00 and gave the company an "outperform" rating in a report on Friday, September 27th. BMO Capital Markets boosted their target price on Accenture from $380.00 to $390.00 and gave the stock a "market perform" rating in a research report on Friday, September 27th. Finally, Piper Sandler Companies reiterated a "neutral" rating and set a $329.00 price target on shares of Accenture in a research report on Friday, September 20th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $371.18.
Get Our Latest Stock Analysis on Accenture
Accenture Price Performance
Shares of Accenture stock traded down $6.43 on Thursday, reaching $364.20. 2,311,730 shares of the company traded hands, compared to its average volume of 2,725,282. The company has a 50 day moving average of $348.78 and a 200 day moving average of $322.52. Accenture has a 52 week low of $278.69 and a 52 week high of $387.51. The firm has a market capitalization of $228.24 billion, a PE ratio of 33.35, a PEG ratio of 3.47 and a beta of 1.25.
Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the business posted $2.71 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts anticipate that Accenture will post 12.79 earnings per share for the current year.
Accenture declared that its Board of Directors has approved a share repurchase plan on Thursday, September 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Insider Activity at Accenture
In other Accenture news, General Counsel Joel Unruch sold 4,750 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $369.97, for a total value of $1,757,357.50. Following the completion of the transaction, the general counsel now directly owns 22,976 shares in the company, valued at approximately $8,500,430.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Joel Unruch sold 4,750 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $369.97, for a total value of $1,757,357.50. Following the completion of the transaction, the general counsel now owns 22,976 shares in the company, valued at $8,500,430.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Angela Beatty sold 673 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total value of $250,477.14. Following the completion of the sale, the insider now directly owns 5,650 shares in the company, valued at approximately $2,102,817. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,971 shares of company stock worth $9,330,113 over the last quarter. 0.07% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Accenture
Several hedge funds have recently bought and sold shares of ACN. Masso Torrence Wealth Management Inc. boosted its position in shares of Accenture by 2.0% in the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider's stock worth $511,000 after purchasing an additional 28 shares in the last quarter. Slow Capital Inc. boosted its holdings in Accenture by 0.3% in the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider's stock worth $3,205,000 after acquiring an additional 29 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Accenture by 0.6% in the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider's stock worth $1,840,000 after acquiring an additional 30 shares during the last quarter. Conscious Wealth Investments LLC increased its holdings in shares of Accenture by 0.4% during the third quarter. Conscious Wealth Investments LLC now owns 7,744 shares of the information technology services provider's stock valued at $2,870,000 after acquiring an additional 31 shares in the last quarter. Finally, Tsfg LLC raised its position in shares of Accenture by 31.1% in the 2nd quarter. Tsfg LLC now owns 135 shares of the information technology services provider's stock worth $41,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 75.14% of the company's stock.
Accenture Company Profile
(
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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.
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