Susquehanna Trims Accenture (NYSE:ACN) Target Price to $350.00

Accenture (NYSE:ACN) had its price target lowered by Susquehanna from $360.00 to $350.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the information technology services provider’s stock.

ACN has been the topic of a number of other reports. Royal Bank of Canada raised their target price on Accenture from $374.00 to $381.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut Accenture from a buy rating to a hold rating and cut their target price for the company from $409.00 to $295.00 in a research note on Wednesday, May 15th. Stifel Nicolaus cut their price objective on shares of Accenture from $395.00 to $340.00 and set a buy rating on the stock in a research note on Wednesday, June 12th. Piper Sandler cut their price objective on shares of Accenture from $379.00 to $320.00 and set a neutral rating on the stock in a research note on Monday, June 17th. Finally, Barclays cut their price objective on shares of Accenture from $390.00 to $350.00 and set an overweight rating on the stock in a research note on Monday, June 17th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Accenture currently has an average rating of Moderate Buy and an average target price of $358.09.

Accenture Trading Up 0.9 %

Accenture stock opened at $308.98 on Friday. The stock has a market cap of $207.25 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.35 and a beta of 1.21. The stock has a 50 day moving average of $301.15 and a 200-day moving average of $337.29. Accenture has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). The firm had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 earnings per share. As a group, equities analysts predict that Accenture will post 12 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.67%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Activity at Accenture

In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,083 shares of company stock valued at $6,302,285. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of hedge funds have recently added to or reduced their stakes in the stock. McKinley Carter Wealth Services Inc. boosted its holdings in shares of Accenture by 7.4% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after acquiring an additional 2,008 shares in the last quarter. TrinityPoint Wealth LLC boosted its holdings in shares of Accenture by 3.6% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after acquiring an additional 125 shares in the last quarter. Buckingham Capital Management Inc. boosted its holdings in shares of Accenture by 3.4% during the 4th quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock valued at $9,671,000 after acquiring an additional 900 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Accenture by 2.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock valued at $1,315,832,000 after acquiring an additional 96,414 shares in the last quarter. Finally, Redwood Investments LLC boosted its holdings in shares of Accenture by 8.3% during the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after acquiring an additional 1,542 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

About Accenture

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.