Accenture (NYSE:ACN – Get Free Report) was downgraded by research analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Monday, Marketbeat reports. They currently have a $210.00 price objective on the information technology services provider’s stock. Truist Financial’s price target indicates a potential upside of 12.11% from the stock’s previous close.
ACN has been the subject of a number of other reports. Robert W. Baird reduced their price objective on shares of Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $243.00 to $247.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Piper Sandler set a $282.00 price objective on shares of Accenture in a research note on Thursday, March 5th. Morgan Stanley reduced their price objective on shares of Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a report on Friday, March 6th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $272.58.
Check Out Our Latest Report on ACN
Accenture Stock Up 0.1%
Accenture (NYSE:ACN – Get Free Report) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. During the same quarter in the prior year, the firm earned $2.82 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts anticipate that Accenture will post 13.87 EPS for the current year.
Insider Activity at Accenture
In related news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.
Institutional Investors Weigh In On Accenture
Several large investors have recently modified their holdings of the business. Ipsen Advisor Group LLC raised its holdings in shares of Accenture by 12.9% in the 1st quarter. Ipsen Advisor Group LLC now owns 2,352 shares of the information technology services provider’s stock valued at $466,000 after purchasing an additional 269 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Accenture by 139.8% during the 1st quarter. Asset Dedication LLC now owns 2,755 shares of the information technology services provider’s stock worth $546,000 after acquiring an additional 1,606 shares in the last quarter. Axiom Investment Management LLC bought a new position in shares of Accenture during the 1st quarter worth approximately $72,000. Segall Bryant & Hamill LLC bought a new position in shares of Accenture during the 1st quarter worth approximately $6,945,000. Finally, Compass Capital Management Inc. raised its stake in shares of Accenture by 2.7% during the 1st quarter. Compass Capital Management Inc. now owns 228,461 shares of the information technology services provider’s stock worth $45,302,000 after acquiring an additional 5,927 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.
About Accenture
Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.
The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.
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