Accenture (NYSE:ACN) Given New $190.00 Price Target at Jefferies Financial Group

Accenture (NYSE:ACNFree Report) had its target price raised by Jefferies Financial Group from $130.00 to $190.00 in a research note issued to investors on Tuesday. Jefferies Financial Group currently has a hold rating on the information technology services provider’s stock.

Several other analysts also recently weighed in on the company. Wells Fargo & Company downgraded Accenture from an “overweight” rating to an “equal weight” rating and set a $194.00 target price for the company. in a research note on Monday, September 14th. The Goldman Sachs Group lowered their price objective on Accenture from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Oppenheimer set a $201.00 price objective on Accenture in a report on Monday, June 8th. Truist Financial decreased their price target on shares of Accenture from $210.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, June 22nd. Finally, Citigroup upped their price target on shares of Accenture from $135.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, August 24th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Accenture presently has an average rating of “Hold” and a consensus target price of $200.07.

Read Our Latest Stock Report on Accenture

Accenture Trading Down 1.0%

Shares of ACN stock opened at $181.77 on Tuesday. Accenture has a fifty-two week low of $118.15 and a fifty-two week high of $291.09. The firm’s 50 day moving average price is $174.92 and its two-hundred day moving average price is $174.31. The stock has a market cap of $121.39 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.15.

Accenture declared that its board has initiated a share buyback program on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $162.98, for a total value of $1,710,964.04. Following the transaction, the general counsel owned 17,735 shares of the company’s stock, valued at $2,890,450.30. This trade represents a 37.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by company insiders.

Institutional Trading of Accenture

Several hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Accenture in the fourth quarter worth $2,146,995,000. Flossbach Von Storch SE acquired a new position in shares of Accenture in the 2nd quarter worth $309,873,000. First Trust Advisors LP lifted its holdings in shares of Accenture by 120.0% during the first quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock valued at $690,475,000 after purchasing an additional 1,899,305 shares during the last quarter. Franklin Resources Inc. lifted its stake in Accenture by 15.9% during the fourth quarter. Franklin Resources Inc. now owns 8,173,338 shares of the information technology services provider’s stock valued at $2,192,907,000 after buying an additional 1,122,855 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of Accenture by 84.0% in the first quarter. Pzena Investment Management LLC now owns 2,405,683 shares of the information technology services provider’s stock valued at $477,023,000 after purchasing an additional 1,097,961 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Trending Headlines about Accenture

Here are the key news stories impacting Accenture this week:

  • Positive Sentiment: Accenture and Anthropic announced a strategic AI-safety partnership in which each company expects to invest at least $1 billion over five years. The arrangement could create demand for model testing, safeguards and enterprise AI implementation services, helping position Accenture (ACN) as an AI governance leader. Can Accenture Profit From AI Safety While AI Pressures Its Own Business Model?
  • Positive Sentiment: The company launched Accenture Construct, a platform intended to improve delivery of large, complex capital projects. Investors may view the offering as a way to capture spending from infrastructure and other major investment programs while applying AI and automation to a fragmented market. Accenture Launches Accenture Construct
  • Positive Sentiment: Accenture is broadening its commercial AI ecosystem through AWS offerings for mid-sized businesses, a Google Cloud relationship and Volvo Cars’ adoption of its Horizon platform for Android Automotive development. These deals support the view that cloud modernization and enterprise AI could offset slower legacy consulting demand. Accenture and AWS Launch AI and Cloud Offerings
  • Neutral Sentiment: Investors are positioning ahead of Accenture’s quarterly earnings report, with analysts revising expectations and estimates. The results and management’s comments on bookings, margins and AI demand are likely to determine whether the recent rebound can continue. Wall Street Forecasters Revamp Accenture Expectations
  • Negative Sentiment: Analysts caution that generative AI may reduce consulting hours, weaken pricing power and pressure margins. Accenture’s valuation has improved after a sharp three-month rebound, potentially limiting near-term upside despite shares remaining well below their 52-week high. AI Is Coming for Consulting, but Accenture Is Fighting Back

Accenture Company Profile

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Accenture plc is a global professional services company that helps organizations improve business performance through consulting, technology, and managed services. Its offerings include strategy and consulting, technology implementation, operations support, and business process services.

The company provides digital transformation services involving cloud computing, artificial intelligence, data and analytics, cybersecurity, systems integration, and enterprise software. Through its Song and Industry X businesses, Accenture also supports customer experience, marketing, product engineering, and smart manufacturing initiatives.

Accenture serves clients across a broad range of industries, including financial services, health care, public service, communications, media and technology, consumer goods, retail, resources, and industrial markets.

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