Accenture (NYSE:ACN) PT Lowered to $350.00 at Wedbush

Accenture (NYSE:ACN) had its target price decreased by Wedbush from $400.00 to $350.00 in a research report released on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the information technology services provider’s stock.

A number of other brokerages have also recently weighed in on ACN. TD Cowen dropped their price target on shares of Accenture from $350.00 to $294.00 and set a hold rating for the company in a research report on Tuesday. Stifel Nicolaus dropped their price objective on shares of Accenture from $395.00 to $340.00 and set a buy rating for the company in a report on Wednesday. StockNews.com cut shares of Accenture from a buy rating to a hold rating in a report on Saturday, April 27th. Susquehanna restated a neutral rating and issued a $360.00 price objective (down previously from $400.00) on shares of Accenture in a report on Thursday, March 21st. Finally, Bank of America decreased their price target on shares of Accenture from $419.00 to $365.00 and set a buy rating for the company in a research note on Wednesday, June 5th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $367.50.

Accenture Price Performance

Shares of ACN opened at $286.72 on Wednesday. Accenture has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a market cap of $192.31 billion, a PE ratio of 25.99, a P/E/G ratio of 3.11 and a beta of 1.21. The firm has a 50-day simple moving average of $304.35 and a two-hundred day simple moving average of $338.67.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. During the same period last year, the business earned $2.69 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Accenture will post 12.08 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were given a $1.29 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $5.16 annualized dividend and a yield of 1.80%. Accenture’s dividend payout ratio (DPR) is 46.78%.

Insider Activity at Accenture

In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the sale, the chief financial officer now owns 42,781 shares in the company, valued at approximately $13,518,796. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the transaction, the chief financial officer now directly owns 42,781 shares in the company, valued at $13,518,796. The disclosure for this sale can be found here. Insiders sold a total of 28,083 shares of company stock worth $8,959,325 in the last 90 days. 0.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Accenture

Institutional investors and hedge funds have recently made changes to their positions in the stock. Chilton Capital Management LLC grew its stake in shares of Accenture by 180.0% during the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 45 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Accenture during the 4th quarter worth $27,000. Annapolis Financial Services LLC grew its stake in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Accenture during the 4th quarter worth $29,000. Finally, Atwood & Palmer Inc. boosted its position in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Company Profile

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.