Accenture’s (ACN) Neutral Rating Reiterated at Piper Sandler Companies

Piper Sandler Companies reiterated their neutral rating on shares of Accenture (NYSE:ACN) in a report released on Friday morning, Stock Target Advisor reports. Piper Sandler Companies currently has a $329.00 target price on the information technology services provider’s stock.

ACN has been the subject of several other research reports. Susquehanna cut their price target on Accenture from $360.00 to $350.00 and set a neutral rating for the company in a research note on Friday, June 21st. BMO Capital Markets dropped their price target on shares of Accenture from $375.00 to $350.00 and set a market perform rating on the stock in a research note on Friday, June 21st. Bank of America reduced their price objective 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. Stifel Nicolaus cut their price target on Accenture from $395.00 to $340.00 and set a buy rating for the company in a report on Wednesday, June 12th. Finally, Jefferies Financial Group decreased their price objective on Accenture from $340.00 to $275.00 and set a hold rating on the stock in a research note on Wednesday, June 5th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $356.41.

Accenture Trading Up 0.9 %

Shares of Accenture stock opened at $339.18 on Friday. The firm has a market capitalization of $212.56 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. The business’s fifty day simple moving average is $332.44 and its 200 day simple moving average is $321.31. Accenture has a 12 month low of $278.69 and a 12 month high of $387.51.

Insiders Place Their Bets

In related news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the transaction, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were 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 approximately $3,652,661.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the transaction, the chief financial officer now owns 38,570 shares in the company, valued at approximately $12,149,550. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock worth $6,912,635 over the last three months. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Swedbank AB bought a new stake in shares of Accenture in the first quarter worth $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Accenture by 100.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after purchasing an additional 875,723 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Accenture by 44.7% in the 2nd quarter. Clearbridge Investments LLC now owns 2,709,989 shares of the information technology services provider’s stock worth $822,238,000 after purchasing an additional 837,677 shares during the period. Winslow Capital Management LLC bought a new stake in Accenture during the fourth quarter valued at approximately $288,168,000. Finally, Generation Investment Management LLP purchased a new stake in Accenture during the fourth quarter valued at approximately $286,220,000. Institutional investors own 75.14% of the company’s stock.

About Accenture

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.