Accenture (NYSE:ACN) Given New $295.00 Price Target at Cowen

Accenture (NYSE:ACNGet Rating) had its price objective decreased by Cowen from $325.00 to $295.00 in a research report issued on Friday, The Fly reports. Cowen’s price target suggests a potential upside of 12.46% from the company’s previous close.

Several other research firms have also recently weighed in on ACN. Exane BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 29th. Cowen reduced their target price on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a report on Friday, June 24th. Barclays reduced their target price on Accenture from $455.00 to $370.00 and set an “overweight” rating on the stock in a report on Friday, June 24th. BMO Capital Markets reduced their target price on Accenture from $337.00 to $315.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Citigroup reduced their target price on Accenture from $315.00 to $305.00 in a report on Friday. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $345.05.

Accenture Trading Down 1.2 %

Shares of NYSE ACN opened at $262.32 on Friday. The company has a market cap of $165.93 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 2.24 and a beta of 1.22. Accenture has a 12 month low of $261.77 and a 12 month high of $417.37. The stock has a 50-day moving average price of $294.97 and a two-hundred day moving average price of $299.75.

Accenture (NYSE:ACNGet Rating) last issued its earnings results on Thursday, September 22nd. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.57 by $0.03. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.41 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 earnings per share. On average, sell-side analysts predict that Accenture will post 10.69 earnings per share for the current year.

Insider Transactions at Accenture

In other news, insider Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the transaction, the insider now directly owns 159,630 shares of the company’s stock, valued at $43,248,555.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the sale, the insider now directly owns 159,630 shares of the company’s stock, valued at approximately $43,248,555.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 3,278 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $270.93, for a total value of $888,108.54. Following the completion of the sale, the chief executive officer now directly owns 16,978 shares of the company’s stock, valued at $4,599,849.54. The disclosure for this sale can be found here. Insiders have sold 11,389 shares of company stock valued at $3,132,777 over the last ninety days. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accenture

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Accenture during the 4th quarter valued at $2,346,198,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Accenture during the 1st quarter valued at $918,234,000. Price T Rowe Associates Inc. MD increased its position in shares of Accenture by 33.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,858,899 shares of the information technology services provider’s stock valued at $2,459,673,000 after purchasing an additional 2,228,802 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Accenture during the 2nd quarter valued at $373,981,000. Finally, Third Point LLC purchased a new stake in shares of Accenture during the 4th quarter valued at $518,188,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Accenture Company Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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