Accenture plc (NYSE:ACN) Given Consensus Recommendation of “Buy” by Brokerages

Accenture plc (NYSE:ACNGet Rating) has earned a consensus recommendation of “Buy” from the twenty-seven ratings firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $383.57.

Several analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Accenture from $433.00 to $368.00 and set a “neutral” rating on the stock in a report on Friday, March 18th. Zacks Investment Research cut shares of Accenture from a “buy” rating to a “hold” rating and set a $323.00 target price on the stock. in a report on Tuesday, March 15th. The Goldman Sachs Group dropped their target price on shares of Accenture from $446.00 to $386.00 and set a “neutral” rating on the stock in a report on Tuesday, March 15th. Royal Bank of Canada increased their target price on shares of Accenture from $430.00 to $435.00 and gave the stock an “outperform” rating in a report on Friday, March 18th. Finally, StockNews.com began coverage on shares of Accenture in a research report on Thursday, March 31st. They set a “buy” rating for the company.

In other Accenture news, CFO Kathleen R. Mcclure sold 1,646 shares of the stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $352.79, for a total transaction of $580,692.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 3,287 shares of the firm’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $315.22, for a total transaction of $1,036,128.14. Following the completion of the sale, the chief executive officer now owns 19,836 shares in the company, valued at approximately $6,252,703.92. The disclosure for this sale can be found here. Insiders sold 12,403 shares of company stock valued at $3,967,374 over the last three months. 0.07% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ACN. Norges Bank acquired a new stake in Accenture during the fourth quarter worth $2,346,198,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Accenture in the 1st quarter valued at $918,234,000. Third Point LLC acquired a new stake in shares of Accenture in the 4th quarter valued at $518,188,000. Wellington Management Group LLP boosted its stake in shares of Accenture by 11.1% in the 3rd quarter. Wellington Management Group LLP now owns 11,244,361 shares of the information technology services provider’s stock valued at $3,597,295,000 after purchasing an additional 1,120,784 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Accenture by 8,042.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 927,299 shares of the information technology services provider’s stock valued at $312,713,000 after purchasing an additional 915,910 shares in the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

NYSE ACN opened at $287.49 on Tuesday. The company’s fifty day simple moving average is $319.58 and its 200-day simple moving average is $346.89. Accenture has a 52 week low of $276.88 and a 52 week high of $417.37. The stock has a market cap of $182.24 billion, a P/E ratio of 28.98, a PEG ratio of 2.74 and a beta of 1.24.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings results on Thursday, March 17th. The information technology services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.17. The firm had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $14.67 billion. Accenture had a net margin of 11.28% and a return on equity of 31.16%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. On average, equities analysts forecast that Accenture will post 10.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Thursday, April 14th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, April 13th. Accenture’s dividend payout ratio (DPR) is 39.11%.

Accenture Company Profile (Get Rating)

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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