Accenture (NYSE:ACN) PT Raised to $415.00 at UBS Group

Accenture (NYSE:ACN) had its price target hoisted by analysts at UBS Group from $400.00 to $415.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. UBS Group’s price target points to a potential upside of 18.67% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Mizuho upped their price objective on shares of Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their price objective on Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday, September 24th. Jefferies Financial Group dropped their price target on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Wedbush dropped their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Finally, Susquehanna upped their price objective on shares of Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average target price of $364.64.

Accenture Price Performance

Shares of ACN opened at $349.70 on Friday. The firm has a 50 day simple moving average of $333.92 and a two-hundred day simple moving average of $320.81. The company has a market cap of $219.15 billion, a P/E ratio of 32.02, a P/E/G ratio of 3.69 and a beta of 1.24. Accenture has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.01. The business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. Accenture’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $2.71 earnings per share. On average, analysts expect that Accenture will post 11.95 earnings per share for the current fiscal year.

Accenture announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accenture

A number of large investors have recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. grew its position in shares of Accenture by 8.2% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after buying an additional 27 shares during the last quarter. Kolinsky Wealth Management LLC boosted its holdings in Accenture by 1.0% in the fourth quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock valued at $1,013,000 after acquiring an additional 30 shares in the last quarter. Walled Lake Planning & Wealth Management LLC increased its position in Accenture by 0.3% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock valued at $4,120,000 after purchasing an additional 32 shares during the period. West Paces Advisors Inc. lifted its position in shares of Accenture by 10.2% in the 1st quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 32 shares during the period. Finally, Tsfg LLC boosted its stake in shares of Accenture by 31.1% during the 2nd quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock valued at $41,000 after purchasing an additional 32 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.