Accenture (NYSE:ACN) Price Target Raised to $250.00

Accenture (NYSE:ACN) had its price objective boosted by investment analysts at Susquehanna Bancshares from $225.00 to $250.00 in a research note issued on Friday, The Fly reports. Susquehanna Bancshares’ price target would suggest a potential upside of 16.78% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Deutsche Bank lifted their price objective on Accenture from $215.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday. Wolfe Research lifted their price objective on Accenture from $165.00 to $220.00 and gave the stock a “peer perform” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on Accenture from $227.00 to $188.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Robert W. Baird lifted their price objective on Accenture from $216.00 to $222.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Zacks Investment Research cut Accenture from a “hold” rating to a “sell” rating and set a $196.00 price objective for the company. in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $218.04.

Shares of ACN stock traded down $3.25 on Friday, reaching $214.07. 766,170 shares of the stock were exchanged, compared to its average volume of 2,345,069. The stock has a market cap of $128.30 billion, a PE ratio of 27.86, a P/E/G ratio of 2.67 and a beta of 1.06. Accenture has a one year low of $137.15 and a one year high of $217.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a 50 day moving average price of $197.42 and a 200 day moving average price of $192.84.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Accenture had a return on equity of 32.87% and a net margin of 11.13%. The company had revenue of $10.99 billion during the quarter, compared to the consensus estimate of $10.89 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts expect that Accenture will post 7.56 earnings per share for the current fiscal year.

In other Accenture news, CEO Gianfranco Casati sold 3,682 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $180.00, for a total value of $662,760.00. Following the sale, the chief executive officer now owns 26,014 shares in the company, valued at $4,682,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David Rowland sold 5,405 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $185.00, for a total value of $999,925.00. Following the completion of the sale, the chairman now owns 17,199 shares in the company, valued at approximately $3,181,815. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,221 shares of company stock worth $4,169,477. Corporate insiders own 0.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ACN. Victory Capital Management Inc. raised its stake in Accenture by 15.4% in the fourth quarter. Victory Capital Management Inc. now owns 58,517 shares of the information technology services provider’s stock valued at $12,322,000 after buying an additional 7,804 shares during the period. Firestone Capital Management acquired a new position in shares of Accenture in the fourth quarter valued at approximately $105,000. Sompo Japan Nipponkoa Asset Management CO. LTD. grew its position in shares of Accenture by 42.9% in the fourth quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 2,900 shares of the information technology services provider’s stock valued at $611,000 after purchasing an additional 870 shares during the last quarter. Annex Advisory Services LLC grew its position in shares of Accenture by 711.1% in the fourth quarter. Annex Advisory Services LLC now owns 10,926 shares of the information technology services provider’s stock valued at $309,000 after purchasing an additional 9,579 shares during the last quarter. Finally, Fieldpoint Private Securities LLC grew its position in shares of Accenture by 79.2% in the fourth quarter. Fieldpoint Private Securities LLC now owns 13,625 shares of the information technology services provider’s stock valued at $2,869,000 after purchasing an additional 6,022 shares during the last quarter. Hedge funds and other institutional investors own 73.64% of the company’s stock.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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