Accenture (NYSE:ACN) Given New $335.00 Price Target at Royal Bank of Canada

Accenture (NYSE:ACNGet Rating) had its price target cut by analysts at Royal Bank of Canada from $357.00 to $335.00 in a research report issued to clients and investors on Friday, The Fly reports. Royal Bank of Canada’s price objective would indicate a potential upside of 27.71% from the stock’s current price.

Other research analysts have also issued research reports about the company. Susquehanna dropped their price target on Accenture from $460.00 to $360.00 in a research report on Friday. Exane BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 29th. Citigroup dropped their target price on Accenture from $315.00 to $305.00 in a research report on Friday. Robert W. Baird boosted their target price on Accenture from $310.00 to $338.00 and gave the company a “neutral” rating in a research report on Tuesday, August 9th. Finally, Bank of America dropped their target price on Accenture from $443.00 to $374.00 and set a “buy” rating for the company in a research report on Friday, June 17th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus target price of $345.05.

Accenture Trading Down 1.2 %

Shares of ACN stock opened at $262.32 on Friday. Accenture has a 12-month low of $261.77 and a 12-month high of $417.37. The stock’s 50-day moving average price is $294.97 and its 200-day moving average price is $299.75. The stock has a market capitalization of $165.93 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22.

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

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 3,278 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 16,978 shares of the company’s stock, valued at $4,599,849.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Joel Unruch sold 555 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $166,500.00. Following the transaction, the general counsel now directly owns 25,601 shares of the company’s stock, valued at $7,680,300. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 3,278 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $888,108.54. Following the transaction, the chief executive officer now directly owns 16,978 shares in the company, valued at $4,599,849.54. The disclosure for this sale can be found here. Insiders sold 11,389 shares of company stock valued at $3,132,777 over the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of large investors have recently made changes to their positions in the business. Citizens National Bank Trust Department acquired a new position in shares of Accenture in the 4th quarter valued at $31,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in Accenture in the first quarter valued at $26,000. Ulland Investment Advisors LLC purchased a new stake in Accenture in the first quarter valued at $29,000. Delos Wealth Advisors LLC purchased a new stake in Accenture in the fourth quarter valued at $39,000. Finally, Schubert & Co boosted its stake in shares of Accenture by 71.6% during the 2nd quarter. Schubert & Co now owns 115 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

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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