Accenture (NYSE:ACN) Price Target Cut to $225.00 by Analysts at Guggenheim

Accenture (NYSE:ACNGet Free Report) had its price target dropped by research analysts at Guggenheim from $250.00 to $225.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Guggenheim’s target price would suggest a potential upside of 33.80% from the company’s previous close.

Several other brokerages have also issued reports on ACN. Mizuho reduced their price target on Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a report on Monday, March 23rd. BMO Capital Markets reduced their price target on Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Accenture from $210.00 to $199.00 and set a “hold” rating on the stock in a report on Tuesday, June 2nd. Wells Fargo & Company dropped their price objective on Accenture from $275.00 to $248.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Finally, UBS Group restated a “buy” rating on shares of Accenture in a research note on Tuesday, March 17th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.89.

Read Our Latest Analysis on Accenture

Accenture Price Performance

Shares of NYSE ACN opened at $168.16 on Thursday. Accenture has a twelve month low of $155.82 and a twelve month high of $318.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $182.94 and a two-hundred day moving average of $222.79. The company has a market capitalization of $111.90 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.64 and a beta of 1.08.

Accenture (NYSE:ACNGet Free Report) last released its earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.82 earnings per share. As a group, analysts expect that Accenture will post 13.87 earnings per share for the current fiscal year.

Insider Activity at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of hedge funds and other institutional investors have recently made changes to their positions in ACN. Triumph Capital Management acquired a new position in shares of Accenture during the third quarter worth about $26,000. Board of the Pension Protection Fund bought a new stake in shares of Accenture in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC acquired a new position in Accenture during the fourth quarter worth approximately $27,000. McMillan Office Inc. bought a new position in shares of Accenture during the 4th quarter worth approximately $27,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Accenture during the 4th quarter valued at $27,000. 75.14% of the stock is owned by institutional investors.

Accenture Company Profile

(Get Free Report)

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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