Accenture (NYSE:ACN) PT Lowered to $340.00 at Morgan Stanley

Accenture (NYSE:ACNGet Rating) had its target price dropped by research analysts at Morgan Stanley from $350.00 to $340.00 in a research note issued on Friday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 31.03% from the stock’s previous close.

Several other research firms also recently commented on ACN. Jefferies Financial Group decreased their price target on shares of Accenture from $342.00 to $310.00 and set a “hold” rating on the stock in a research note on Wednesday, September 14th. Susquehanna Bancshares lowered their price target on shares of Accenture from $460.00 to $360.00 in a research note on Friday. Bank of America reduced their price objective on Accenture from $443.00 to $374.00 and set a “buy” rating on the stock in a research note on Friday, June 17th. Citigroup dropped their target price on Accenture from $315.00 to $305.00 in a report on Friday. Finally, Royal Bank of Canada lowered their price objective on Accenture from $357.00 to $335.00 in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and a consensus target price of $343.80.

Accenture Stock Down 1.1 %

Shares of NYSE ACN traded down $2.83 during mid-day trading on Friday, reaching $259.49. 32,238 shares of the company were exchanged, compared to its average volume of 2,035,834. The stock has a market capitalization of $164.14 billion, a PE ratio of 25.20, a PEG ratio of 2.24 and a beta of 1.22. Accenture has a 52 week low of $261.77 and a 52 week high of $417.37. The company’s 50 day moving average price is $294.97 and its 200 day moving average price is $299.75.

Accenture (NYSE:ACNGet Rating) last issued its quarterly earnings results on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.03. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.41 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, sell-side analysts predict that Accenture will post 10.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ellyn Shook sold 750 shares of Accenture stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $225,000.00. Following the completion of the transaction, the insider now owns 21,400 shares of the company’s stock, valued at approximately $6,420,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Ellyn Shook sold 750 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $225,000.00. Following the transaction, the insider now directly owns 21,400 shares of the company’s stock, valued at approximately $6,420,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the sale, the insider now directly owns 159,630 shares of the company’s stock, valued at approximately $43,248,555.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,389 shares of company stock valued at $3,132,777. 0.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Accenture

A number of large investors have recently made changes to their positions in ACN. Oliver Lagore Vanvalin Investment Group purchased a new stake in Accenture during the 1st quarter valued at $26,000. Ulland Investment Advisors LLC bought a new stake in shares of Accenture in the first quarter worth $29,000. Citizens National Bank Trust Department bought a new position in Accenture in the fourth quarter valued at about $31,000. Landmark Wealth Management LLC purchased a new position in Accenture in the first quarter worth about $32,000. Finally, Schubert & Co grew its stake in shares of Accenture by 71.6% during the 2nd quarter. Schubert & Co now owns 115 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 48 shares during the period. 73.73% of the stock is currently owned by institutional investors.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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