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

Accenture (NYSE:ACN) had its price target reduced by equities research analysts at Mizuho from $428.00 to $398.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price target indicates a potential upside of 22.76% from the stock’s current price.

ACN has been the subject of several other research reports. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. BMO Capital Markets reduced their price objective on Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a research note on Tuesday. Morgan Stanley reduced their price target on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Monday. Jefferies Financial Group reduced their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.09.

Accenture Trading Down 0.5 %

Accenture stock opened at $324.21 on Wednesday. The stock has a market cap of $202.89 billion, a PE ratio of 27.20, a P/E/G ratio of 3.23 and a beta of 1.24. The stock has a 50-day moving average price of $361.86 and a 200 day moving average price of $358.02. Accenture has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 EPS. Equities research analysts predict that Accenture will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last three months. 0.02% of the stock is owned by insiders.

Institutional Trading of Accenture

Institutional investors have recently modified their holdings of the company. Baldwin Wealth Partners LLC MA lifted its holdings in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares during the period. Davidson Trust Co. lifted its holdings in shares of Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its holdings in shares of Accenture by 126.8% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after purchasing an additional 22,391 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Accenture by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after purchasing an additional 56,937 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Accenture by 37.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock valued at $1,088,000 after buying an additional 843 shares during the period. 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.