Morgan Stanley Reaffirms “Overweight” Rating for Accenture (NYSE:ACN)

Morgan Stanley reaffirmed their overweight rating on shares of Accenture (NYSE:ACNFree Report) in a report released on Friday, Benzinga reports. The brokerage currently has a $400.00 price target on the information technology services provider’s stock.

A number of other brokerages have also commented on ACN. Redburn Atlantic raised their target price on shares of Accenture from $410.00 to $445.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Robert W. Baird reduced their target price on shares of Accenture from $372.00 to $345.00 and set a neutral rating on the stock in a research report on Thursday, May 16th. Piper Sandler Companies reduced their target price on shares of Accenture from $379.00 to $320.00 and set a neutral rating on the stock in a research report on Monday, June 17th. Royal Bank of Canada raised their target price on shares of Accenture from $374.00 to $381.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets dropped their price objective on shares of Accenture from $375.00 to $350.00 and set a market perform rating on the stock in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $358.09.

View Our Latest Stock Report on Accenture

Accenture Price Performance

Accenture stock opened at $308.98 on Friday. Accenture has a 1-year low of $278.69 and a 1-year high of $387.51. The firm has a market capitalization of $207.25 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.35 and a beta of 1.21. The company’s 50-day moving average is $301.15 and its 200 day moving average is $337.29.

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

Accenture Dividend Announcement

The business 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 dividend of $1.29 per share. The ex-dividend date is Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.67%. Accenture’s payout ratio is currently 47.25%.

Insider Transactions at Accenture

In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now directly owns 161,581 shares in the company, valued at $51,045,053.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the transaction, the chief financial officer now owns 42,781 shares of the company’s stock, valued at $13,518,796. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,083 shares of company stock worth $6,302,285. Company insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ACN. Mosaic Family Wealth Partners LLC increased its holdings in Accenture by 5.2% in the first quarter. Mosaic Family Wealth Partners LLC now owns 1,366 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 67 shares in the last quarter. Clear Rock Advisors LLC increased its holdings in Accenture by 2.6% in the first quarter. Clear Rock Advisors LLC now owns 6,588 shares of the information technology services provider’s stock valued at $2,283,000 after buying an additional 168 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Accenture by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,680,610 shares of the information technology services provider’s stock valued at $575,480,000 after buying an additional 124,068 shares in the last quarter. Motiv8 Investments LLC increased its holdings in Accenture by 22.8% in the first quarter. Motiv8 Investments LLC now owns 1,671 shares of the information technology services provider’s stock valued at $579,000 after buying an additional 310 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its holdings in Accenture by 1.6% in the first quarter. Cetera Advisor Networks LLC now owns 50,872 shares of the information technology services provider’s stock valued at $17,633,000 after buying an additional 799 shares in the last quarter. Hedge funds and other 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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