Mizuho Analysts Give Accenture (NYSE:ACN) a $348.00 Price Target

by · The Cerbat Gem

Mizuho set a $348.00 price objective on Accenture (NYSE:ACN – Free Report) in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

Several other equities analysts also recently issued reports on ACN. Piper Sandler cut their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wall Street Zen cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Guggenheim reduced their target price on shares of Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday. BMO Capital Markets reduced their price objective on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a report on Monday. Finally, UBS Group restated a “buy” rating and set a $395.00 target price (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average price target of $370.71.

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Accenture Price Performance

Shares of ACN stock opened at $296.03 on Tuesday. The stock’s fifty day simple moving average is $307.78 and its 200 day simple moving average is $332.11. Accenture has a one year low of $273.19 and a one year high of $398.35. The firm has a market cap of $185.41 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.89 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48.

Accenture (NYSE:ACN – Get Free Report) last announced its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $3.13 EPS. On average, analysts expect that Accenture will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be given a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.00%. Accenture’s dividend payout ratio is currently 47.13%.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 169 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider now directly owns 5,364 shares of the company’s stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO John F. Walsh sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer now owns 15,882 shares in the company, valued at approximately $5,161,650. This represents a 13.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,516 shares of company stock worth $2,507,366. Corporate insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Accenture

A number of institutional investors and hedge funds have recently modified their holdings of ACN. Brighton Jones LLC boosted its stake in shares of Accenture by 36.2% during the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after acquiring an additional 4,905 shares during the period. Sigma Planning Corp lifted its holdings in Accenture by 3.4% during the 4th quarter. Sigma Planning Corp now owns 2,526 shares of the information technology services provider’s stock valued at $889,000 after purchasing an additional 83 shares during the last quarter. MONECO Advisors LLC boosted its position in Accenture by 26.9% during the fourth quarter. MONECO Advisors LLC now owns 1,713 shares of the information technology services provider’s stock worth $603,000 after purchasing an additional 363 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Accenture during the 4th quarter worth about $350,000. Finally, IFP Advisors Inc grew its stake in Accenture by 1.5% in the 4th quarter. IFP Advisors Inc now owns 10,920 shares of the information technology services provider’s stock valued at $3,841,000 after buying an additional 164 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Company Profile

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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.

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