Accenture (NYSE:ACN) Given New $329.00 Price Target at Piper Sandler

Accenture (NYSE:ACN) had its target price hoisted by Piper Sandler from $320.00 to $329.00 in a research report report published on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the information technology services provider’s stock.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus dropped their target price on Accenture from $395.00 to $340.00 and set a buy rating for the company in a research report on Wednesday, June 12th. The Goldman Sachs Group started coverage on shares of Accenture in a research note on Monday, June 24th. They set a neutral rating and a $335.00 target price on the stock. Barclays decreased their price target on shares of Accenture from $390.00 to $350.00 and set an overweight rating for the company in a research report on Monday, June 17th. Morgan Stanley cut Accenture from an overweight rating to an equal weight rating and reduced their price objective for the company from $382.00 to $300.00 in a research note on Wednesday, June 26th. Finally, UBS Group raised Accenture from a neutral rating to a buy rating and set a $400.00 target price for the company in a research note on Friday, July 19th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $356.41.

Accenture Stock Up 0.9 %

ACN opened at $339.18 on Friday. Accenture has a 52 week low of $278.69 and a 52 week high of $387.51. The business has a fifty day simple moving average of $332.44 and a 200-day simple moving average of $321.31. The firm has a market cap of $212.56 billion, a P/E ratio of 31.06, a P/E/G ratio of 3.82 and a beta of 1.24.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,421 shares of company stock worth $6,912,635. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

Several institutional investors have recently bought and sold shares of ACN. Pin Oak Investment Advisors Inc. raised its holdings in Accenture by 8.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 27 shares in the last quarter. IronBridge Private Wealth LLC lifted its holdings in shares of Accenture by 2.3% in the fourth quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after buying an additional 28 shares during the period. Kolinsky Wealth Management LLC boosted its stake in Accenture by 1.0% during the fourth quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock valued at $1,013,000 after buying an additional 30 shares in the last quarter. Walled Lake Planning & Wealth Management LLC grew its holdings in Accenture by 0.3% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock worth $4,120,000 after acquiring an additional 32 shares during the period. Finally, West Paces Advisors Inc. lifted its holdings in Accenture by 10.2% in the 1st quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock valued at $120,000 after acquiring an additional 32 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

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.