Mizuho Raises Accenture (NYSE:ACN) Price Target to $365.00

by · The Markets Daily

Accenture (NYSE:ACN – Free Report) had its price objective increased by Mizuho from $352.00 to $365.00 in a research note published on Wednesday morning, Benzinga reports. Mizuho currently has an outperform rating on the information technology services provider’s stock.

A number of other research analysts have also issued reports on ACN. Piper Sandler decreased their target price on Accenture from $379.00 to $320.00 and set a neutral rating on the stock in a research report on Monday, June 17th. Wedbush decreased their price objective on Accenture from $400.00 to $350.00 and set an outperform rating on the stock in a report on Wednesday, June 12th. Barclays reduced their price target on Accenture from $390.00 to $350.00 and set an overweight rating on the stock in a report on Monday, June 17th. Susquehanna reduced their price target on Accenture from $360.00 to $350.00 and set a neutral rating on the stock in a report on Friday, June 21st. Finally, Jefferies Financial Group reduced their price target on Accenture from $340.00 to $275.00 and set a hold rating on the stock in a report on Wednesday, June 5th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $356.41.

Check Out Our Latest Analysis on Accenture

Accenture Price Performance

Shares of NYSE ACN opened at $336.22 on Wednesday. The stock has a market capitalization of $210.71 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. Accenture has a 12 month low of $278.69 and a 12 month high of $387.51. The firm’s 50 day simple moving average is $332.01 and its 200-day simple moving average is $322.44.

Accenture (NYSE:ACN – Get Free Report) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter last year, the business earned $3.19 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts anticipate that Accenture will post 11.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accenture

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACN. Unique Wealth Strategies LLC acquired a new stake in shares of Accenture in the second quarter valued at about $26,000. Annapolis Financial Services LLC grew its stake in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Accenture in the second quarter valued at about $28,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at about $29,000. Finally, Atwood & Palmer Inc. grew its stake in Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Company Profile

(Get Free Report)

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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