Accenture (NYSE:ACN) Price Target Lowered to $372.00 at Morgan Stanley

Accenture (NYSE:ACN) had its price target cut by Morgan Stanley from $380.00 to $372.00 in a research note published on Monday,Benzinga reports. They currently have an equal weight rating on the information technology services provider’s stock.

Several other research firms have also commented on ACN. Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a research note on Monday. Jefferies Financial Group cut their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler cut their price target on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average price target of $388.04.

Accenture Trading Up 2.3 %

NYSE:ACN opened at $326.25 on Monday. Accenture has a one year low of $278.69 and a one year high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $204.16 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.23 and a beta of 1.24. The firm has a 50-day simple moving average of $362.51 and a 200-day simple moving average of $358.14.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.27 EPS. Equities analysts anticipate that Accenture will post 12.73 EPS for the current fiscal year.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last three months. Insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Members Wealth LLC purchased a new position in shares of Accenture in the fourth quarter valued at approximately $261,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in Accenture in the fourth quarter worth approximately $72,926,000. Capstone Triton Financial Group LLC lifted its stake in Accenture by 43.0% in the fourth quarter. Capstone Triton Financial Group LLC now owns 2,732 shares of the information technology services provider’s stock worth $961,000 after acquiring an additional 822 shares during the last quarter. TFR Capital LLC. purchased a new position in Accenture in the fourth quarter worth approximately $1,792,000. Finally, Park Square Financial Group LLC purchased a new position in Accenture in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors 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.