Accenture (NYSE:ACN) Stock Price Down 7.5% – Here’s What Happened

Accenture PLC (NYSE:ACN)’s stock price dropped 7.5% during mid-day trading on Wednesday . The stock traded as low as $157.21 and last traded at $157.0950. Approximately 5,084,238 shares were traded during trading, a decline of 18% from the average daily volume of 6,232,170 shares. The stock had previously closed at $169.77.

Wall Street Analysts Forecast Growth

ACN has been the subject of several analyst reports. UBS Group reaffirmed a “buy” rating on shares of Accenture in a research report on Tuesday, March 17th. Mizuho lowered their price objective on Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. Robert W. Baird lowered their price objective on Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. TD Cowen lowered their price objective on Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Finally, Royal Bank Of Canada decreased their target price on Accenture from $295.00 to $253.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.50.

Accenture Trading Up 3.0%

The company has a 50 day simple moving average of $191.36 and a 200 day simple moving average of $231.76. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $112.42 billion, a PE ratio of 13.84, a P/E/G ratio of 1.51 and a beta of 1.08.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 EPS. Analysts predict that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is currently 53.40%.

Insider Activity at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This trade represents a 27.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by corporate insiders.

Institutional Trading of Accenture

Hedge funds have recently modified their holdings of the business. Triumph Capital Management acquired a new stake in shares of Accenture in the 3rd quarter valued at approximately $26,000. Board of the Pension Protection Fund purchased a new position in Accenture in the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new position in Accenture in the 4th quarter valued at approximately $27,000. McMillan Office Inc. purchased a new position in Accenture in the 4th quarter valued at approximately $27,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Accenture in the 4th quarter valued at approximately $27,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Company Profile

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.