Accenture (NYSE:ACN) Price Target Lowered to $398.00 at Mizuho

Accenture (NYSE:ACN) had its price target cut by Mizuho from $428.00 to $398.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

ACN has been the topic of a number of other reports. BMO Capital Markets decreased their price objective on Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a research report on Tuesday. Morgan Stanley dropped their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday. Jefferies Financial Group lowered their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, UBS Group upped their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $384.45.

Accenture Stock Performance

Accenture stock opened at $324.52 on Wednesday. Accenture has a 12-month low of $278.69 and a 12-month high of $398.35. The stock has a 50-day simple moving average of $361.19 and a 200 day simple moving average of $357.78. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $203.08 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.27 earnings per share. On average, research analysts anticipate that Accenture will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Accenture

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morse Asset Management Inc acquired a new position in shares of Accenture during the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. increased its holdings in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Accenture in the 4th quarter valued at about $30,000. Finally, POM Investment Strategies LLC increased its stake in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds 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.