Accenture (NYSE:ACN) PT Lowered to $340.00 at Morgan Stanley

Accenture (NYSE:ACNGet Rating) had its price target cut by equities researchers at Morgan Stanley from $350.00 to $340.00 in a report issued on Friday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 31.03% from the company’s previous close.

A number of other equities analysts have also recently commented on ACN. Piper Sandler cut their target price on Accenture from $281.00 to $268.00 and set a “neutral” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Accenture from $364.00 to $320.00 in a report on Friday. Susquehanna lowered their target price on Accenture from $460.00 to $360.00 in a report on Friday. Susquehanna Bancshares decreased their price target on shares of Accenture from $460.00 to $360.00 in a research report on Friday. Finally, Royal Bank of Canada decreased their price target on shares of Accenture from $357.00 to $335.00 in a report on Friday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $343.80.

Accenture Price Performance

NYSE ACN traded down $2.83 during trading hours on Friday, reaching $259.49. 32,238 shares of the company’s stock traded hands, compared to its average volume of 2,035,834. The firm has a 50-day simple moving average of $294.97 and a 200 day simple moving average of $299.75. The firm has a market cap of $164.14 billion, a PE ratio of 25.20, a PEG ratio of 2.24 and a beta of 1.22. Accenture has a 52-week low of $261.77 and a 52-week high of $417.37.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings data on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. Sell-side analysts forecast that Accenture will post 10.69 EPS for the current fiscal year.

Insider Transactions at Accenture

In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 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 transaction of $1,693,312.50. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Julie Spellman Sweet sold 3,278 shares of Accenture 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 transaction, the chief executive officer now owns 16,978 shares of the company’s stock, valued at approximately $4,599,849.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated 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 transaction, the insider now directly owns 159,630 shares in the company, valued at approximately $43,248,555.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,389 shares of company stock valued at $3,132,777. Insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACN. Coston McIsaac & Partners bought a new position in Accenture in the 2nd quarter worth $162,000. Tandem Investment Advisors Inc. lifted its stake in shares of Accenture by 4.5% in the second quarter. Tandem Investment Advisors Inc. now owns 172,508 shares of the information technology services provider’s stock valued at $47,897,000 after buying an additional 7,478 shares during the period. B. Riley Wealth Management Inc. increased its stake in Accenture by 33.1% during the second quarter. B. Riley Wealth Management Inc. now owns 4,954 shares of the information technology services provider’s stock valued at $99,565,000 after acquiring an additional 1,231 shares during the period. Royal London Asset Management Ltd. raised its stake in shares of Accenture by 0.7% in the second quarter. Royal London Asset Management Ltd. now owns 226,920 shares of the information technology services provider’s stock valued at $63,030,000 after purchasing an additional 1,672 shares in the last quarter. Finally, Capstone Financial Advisors Inc. lifted its holdings in shares of Accenture by 378.3% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 8,805 shares of the information technology services provider’s stock worth $2,445,000 after acquiring an additional 6,964 shares during the period. 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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