Accenture (NYSE:ACN) Given New $392.00 Price Target at Royal Bank of Canada

Accenture (NYSE:ACN - Get Free Report) had its price objective reduced by equities researchers at Royal Bank of Canada from $399.00 to $392.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the information technology services provider's stock. Royal Bank of Canada's price target would suggest a potential upside of 26.87% from the stock's previous close.

A number of other equities analysts also recently weighed in on ACN. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price for the company in a research note on Monday, March 17th. Stifel Nicolaus dropped their price objective on Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. UBS Group decreased their target price on Accenture from $455.00 to $387.00 and set a "buy" rating for the company in a research note on Friday. Wolfe Research upgraded Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Accenture has a consensus rating of "Moderate Buy" and an average target price of $378.91.

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Accenture Trading Up 0.6 %

ACN traded up $1.79 during midday trading on Friday, hitting $308.97. 3,889,341 shares of the company were exchanged, compared to its average volume of 2,761,674. The firm has a market capitalization of $193.35 billion, a P/E ratio of 25.92, a P/E/G ratio of 3.23 and a beta of 1.24. The firm's 50 day moving average price is $357.53 and its 200-day moving average price is $356.88. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture has a 1-year low of $278.69 and a 1-year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $16.70 billion for the quarter, compared to analysts' expectations of $16.64 billion. During the same period in the prior year, the business posted $2.77 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that Accenture will post 12.73 EPS for the current fiscal year.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares of the company's stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is owned by insiders.

Institutional Trading of Accenture

A number of institutional investors and hedge funds have recently modified their holdings of ACN. Visionary Wealth Advisors increased its position in shares of Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after purchasing an additional 26 shares during the last quarter. Vivaldi Capital Management LP increased its holdings in Accenture by 3.6% during the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock worth $292,000 after buying an additional 27 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider's stock worth $182,000 after acquiring an additional 28 shares during the period. FPC Investment Advisory Inc. boosted its stake in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after acquiring an additional 28 shares during the last quarter. Finally, Tradition Wealth Management LLC lifted its stake in Accenture by 0.3% in the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider's stock valued at $3,871,000 after purchasing an additional 29 shares during the last quarter. 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.