Accenture (NYSE:ACN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Accenture (NYSE:ACNGet Free Report) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $243.00 to $247.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 23.67% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Susquehanna lifted their price objective on shares of Accenture from $270.00 to $277.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft cut their price target on Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, March 6th. Royal Bank Of Canada lowered their price target on Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a research report on Friday. BMO Capital Markets dropped their price objective on Accenture from $300.00 to $230.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Rothschild & Co Redburn upped their target price on Accenture from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Eighteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $276.00.

Read Our Latest Stock Analysis on Accenture

Accenture Stock Performance

Shares of Accenture stock traded down $3.82 during trading on Friday, hitting $199.73. 5,298,482 shares of the company’s stock were exchanged, compared to its average volume of 6,216,090. Accenture has a 52-week low of $187.00 and a 52-week high of $325.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $122.96 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.85 and a beta of 1.27. The business has a 50-day simple moving average of $235.99 and a 200-day simple moving average of $247.16.

Accenture (NYSE:ACNGet Free Report) last announced its quarterly earnings results on Thursday, March 19th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.65% and a net margin of 10.76%.The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $2.82 EPS. On average, research analysts forecast that Accenture will post 12.73 EPS for the current year.

Insider Buying and Selling at Accenture

In other news, insider Manish Sharma sold 2,731 shares of Accenture stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $288.13, for a total transaction of $786,883.03. Following the sale, the insider owned 7,057 shares of the company’s stock, valued at approximately $2,033,333.41. The trade was a 27.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Joel Unruch sold 1,332 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $275.00, for a total value of $366,300.00. Following the completion of the transaction, the general counsel owned 28,207 shares of the company’s stock, valued at $7,756,925. The trade was a 4.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 22,088 shares of company stock worth $5,970,434. Corporate insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of hedge funds have recently modified their holdings of the business. Running Oak Capital LLC increased its holdings in shares of Accenture by 14.3% in the 3rd quarter. Running Oak Capital LLC now owns 57,541 shares of the information technology services provider’s stock valued at $14,190,000 after acquiring an additional 7,190 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Accenture in the second quarter valued at approximately $2,658,000. Weitz Investment Management Inc. increased its stake in Accenture by 28.8% in the third quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock valued at $39,592,000 after purchasing an additional 35,900 shares during the last quarter. Norges Bank acquired a new stake in Accenture during the second quarter worth approximately $2,216,850,000. Finally, D.A. Davidson & CO. lifted its position in shares of Accenture by 17.4% during the 3rd quarter. D.A. Davidson & CO. now owns 258,599 shares of the information technology services provider’s stock worth $63,771,000 after buying an additional 38,325 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture News Summary

Here are the key news stories impacting Accenture this week:

About Accenture

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Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

Further Reading

Analyst Recommendations for Accenture (NYSE:ACN)

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