Accenture (NYSE:ACN) Given New $354.00 Price Target at Piper Sandler

Accenture (NYSE:ACN) had its price target boosted by Piper Sandler from $302.00 to $354.00 in a research note released on Friday, The Fly reports. Piper Sandler currently has a neutral rating on the information technology services provider’s stock.

ACN has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Accenture from $308.00 to $364.00 and gave the company an overweight rating in a research report on Tuesday, August 17th. BNP Paribas upgraded shares of Accenture from a neutral rating to an outperform rating and set a $335.00 target price on the stock in a research report on Wednesday, June 23rd. Societe Generale lifted their target price on shares of Accenture from $313.00 to $329.00 and gave the company a buy rating in a research report on Tuesday, June 15th. Susquehanna Bancshares boosted their price target on shares of Accenture from $325.00 to $340.00 and gave the stock a positive rating in a research report on Friday, June 25th. Finally, Stifel Nicolaus boosted their price target on shares of Accenture from $342.00 to $385.00 and gave the stock a buy rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture presently has a consensus rating of Buy and an average price target of $350.29.

ACN stock opened at $339.23 on Friday. The firm has a market cap of $215.29 billion, a PE ratio of 37.95, a P/E/G ratio of 3.48 and a beta of 1.11. The firm’s fifty day moving average is $329.06 and its 200 day moving average is $300.80. Accenture has a one year low of $210.42 and a one year high of $345.52.

Accenture (NYSE:ACN) last released its quarterly earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.01. Accenture had a net margin of 12.06% and a return on equity of 28.94%. The company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.42 billion. During the same quarter last year, the business earned $1.70 earnings per share. The firm’s revenue was up 23.8% on a year-over-year basis. Research analysts predict that Accenture will post 8.79 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Thursday, October 14th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Wednesday, October 13th. This is an increase from Accenture’s previous quarterly dividend of $0.88. This represents a $3.88 dividend on an annualized basis and a yield of 1.14%. Accenture’s payout ratio is 47.18%.

In other news, Director Paula A. Price sold 685 shares of the business’s stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $294.05, for a total value of $201,424.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $314.20, for a total transaction of $1,413,900.00. Following the completion of the sale, the chief financial officer now directly owns 16,131 shares in the company, valued at $5,068,360.20. The disclosure for this sale can be found here. Insiders sold a total of 19,993 shares of company stock worth $6,194,020 over the last three months. Insiders own 0.07% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moisand Fitzgerald Tamayo LLC purchased a new stake in Accenture during the 2nd quarter worth approximately $25,000. Solstein Capital LLC purchased a new stake in Accenture during the 1st quarter worth approximately $29,000. Hanson & Doremus Investment Management increased its stake in Accenture by 750.0% during the 2nd quarter. Hanson & Doremus Investment Management now owns 136 shares of the information technology services provider’s stock worth $31,000 after buying an additional 120 shares during the period. Trustcore Financial Services LLC grew its holdings in Accenture by 456.0% during the 2nd quarter. Trustcore Financial Services LLC now owns 139 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 114 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC acquired a new position in Accenture during the 2nd quarter worth approximately $44,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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