Accenture (NYSE:ACN) had its target price increased by JPMorgan Chase & Co. from $228.00 to $256.00 in a research report sent to investors on Monday morning, The Fly reports. They currently have an overweight rating on the information technology services provider’s stock.
Several other research analysts have also issued reports on ACN. Stifel Nicolaus increased their target price on Accenture from $184.00 to $236.00 and gave the stock a buy rating in a research report on Friday, June 19th. Piper Sandler started coverage on Accenture in a research note on Thursday, May 21st. They issued a neutral rating and a $196.00 price target on the stock. Wolfe Research upped their price target on Accenture from $165.00 to $220.00 and gave the stock a peer perform rating in a research note on Friday, June 26th. Wells Fargo & Co downgraded Accenture from an overweight rating to an equal weight rating and upped their price target for the stock from $190.00 to $200.00 in a research note on Thursday, June 18th. They noted that the move was a valuation call. Finally, UBS Group upped their price target on Accenture from $160.00 to $215.00 and gave the stock a neutral rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $221.96.
Shares of NYSE:ACN traded up $1.98 during midday trading on Monday, reaching $236.61. 1,279,294 shares of the company traded hands, compared to its average volume of 1,447,830. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.17. Accenture has a 12 month low of $137.15 and a 12 month high of $236.95. The firm has a market capitalization of $149.41 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. The firm’s fifty day moving average price is $223.86 and its two-hundred day moving average price is $196.95.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.06. Accenture had a return on equity of 31.51% and a net margin of 11.11%. The business had revenue of $10.99 billion during the quarter, compared to analysts’ expectations of $10.89 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Analysts forecast that Accenture will post 7.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 16th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.20 dividend on an annualized basis and a yield of 1.35%. Accenture’s dividend payout ratio is presently 43.48%.
In other Accenture news, CFO Kathleen R. Mcclure sold 1,125 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $212.15, for a total transaction of $238,668.75. Following the sale, the chief financial officer now directly owns 23,274 shares of the company’s stock, valued at $4,937,579.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Joel Unruch sold 1,124 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $222.55, for a total value of $250,146.20. Following the sale, the general counsel now directly owns 24,201 shares in the company, valued at $5,385,932.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,847 shares of company stock worth $3,710,958. Insiders own 0.10% of the company’s stock.
A number of large investors have recently bought and sold shares of ACN. Rockbridge Investment Management LCC purchased a new position in shares of Accenture during the second quarter valued at approximately $66,000. Ninety One North America Inc. bought a new stake in shares of Accenture during the second quarter valued at approximately $269,000. RMR Wealth Builders bought a new stake in shares of Accenture during the second quarter valued at approximately $267,000. Orion Portfolio Solutions LLC raised its stake in shares of Accenture by 22.5% during the second quarter. Orion Portfolio Solutions LLC now owns 3,202 shares of the information technology services provider’s stock valued at $688,000 after acquiring an additional 589 shares in the last quarter. Finally, tru Independence LLC raised its stake in shares of Accenture by 1.2% during the second quarter. tru Independence LLC now owns 4,475 shares of the information technology services provider’s stock valued at $961,000 after acquiring an additional 54 shares in the last quarter. 73.62% of the stock is currently owned by institutional investors and hedge funds.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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