Accenture (NYSE:ACN) Price Target Lowered to $350.00 at Barclays

Accenture (NYSE:ACN) had its price objective cut by Barclays from $390.00 to $350.00 in a research note published on Monday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other research analysts have also weighed in on ACN. Stifel Nicolaus lowered their price objective on Accenture from $395.00 to $340.00 and set a buy rating for the company in a research report on Wednesday, June 12th. Citigroup reduced their price objective on shares of Accenture from $430.00 to $400.00 and set a buy rating on the stock in a report on Friday, March 22nd. Piper Sandler Companies lowered their target price on shares of Accenture from $379.00 to $320.00 and set a neutral rating for the company in a research note on Monday. Robert W. Baird reduced their price target on shares of Accenture from $372.00 to $345.00 and set a neutral rating on the stock in a research note on Thursday, May 16th. Finally, Mizuho reiterated a buy rating and issued a $398.00 target price (down previously from $426.00) on shares of Accenture in a report on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture has a consensus rating of Moderate Buy and a consensus target price of $362.68.

Accenture Stock Performance

Shares of NYSE ACN opened at $285.53 on Monday. The firm has a market cap of $191.52 billion, a PE ratio of 25.89, a PEG ratio of 3.12 and a beta of 1.22. Accenture has a one year low of $278.69 and a one year high of $387.51. The firm has a fifty day moving average of $303.42 and a 200 day moving average of $338.41.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. Accenture’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $2.69 EPS. On average, equities analysts predict that Accenture will post 12.08 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, April 10th. Accenture’s payout ratio is 46.78%.

Insider Buying and Selling

In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction that occurred 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 owns 161,581 shares in the company, valued at $51,045,053.71. The disclosure for this sale can be found here. Insiders have sold 28,083 shares of company stock valued at $8,959,325 over the last quarter. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Accenture

A number of large investors have recently bought and sold shares of ACN. Chilton Capital Management LLC raised its position in shares of Accenture by 180.0% in the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Accenture in the 4th quarter valued at $27,000. Annapolis Financial Services LLC lifted its stake in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture during the fourth quarter worth $29,000. Finally, Atwood & Palmer Inc. increased its stake in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

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.