Accenture (NYSE:ACN) Price Target Lowered to $293.00 at TD Cowen

Accenture (NYSE:ACNFree Report) had its price objective cut by TD Cowen from $294.00 to $293.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the information technology services provider’s stock.

ACN has been the subject of several other research reports. StockNews.com cut Accenture from a buy rating to a hold rating in a research note on Saturday, April 27th. Deutsche Bank Aktiengesellschaft cut Accenture from a buy rating to a hold rating and decreased their price target for the stock from $409.00 to $295.00 in a research note on Wednesday, May 15th. Piper Sandler Companies decreased their price target on Accenture from $379.00 to $320.00 and set a neutral rating for the company in a research note on Monday, June 17th. Royal Bank of Canada upped their price objective on Accenture from $374.00 to $381.00 and gave the company an outperform rating in a research report on Friday, March 22nd. Finally, Susquehanna reduced their price objective on Accenture from $360.00 to $350.00 and set a neutral rating for the company in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $358.09.

Read Our Latest Research Report on Accenture

Accenture Trading Up 0.9 %

Accenture stock opened at $308.98 on Friday. The business’s fifty day simple moving average is $301.15 and its two-hundred day simple moving average is $337.29. Accenture has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a market capitalization of $207.25 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 3.35 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last released its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period last year, the firm posted $3.19 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Accenture will post 12 EPS for the current year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is 47.25%.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Insiders sold a total of 20,083 shares of company stock valued at $6,302,285 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Norges Bank bought a new position in Accenture during the fourth quarter valued at approximately $2,061,490,000. Swedbank AB bought a new position in Accenture during the first quarter valued at approximately $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Accenture by 100.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after buying an additional 875,723 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Accenture during the fourth quarter valued at approximately $288,168,000. Finally, Generation Investment Management LLP purchased a new stake in Accenture during the fourth quarter valued at approximately $286,220,000. 75.14% of the stock is owned by institutional investors.

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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Analyst Recommendations for Accenture (NYSE:ACN)

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