Accenture (NYSE:ACN) Given New $340.00 Price Target at Robert W. Baird

Accenture (NYSE:ACNGet Rating) had its price objective cut by analysts at Robert W. Baird from $378.00 to $340.00 in a report released on Tuesday, The Fly reports. Robert W. Baird’s price target would indicate a potential upside of 22.97% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price objective on Accenture from $440.00 to $368.00 in a research report on Thursday, March 17th. Morgan Stanley raised their price target on Accenture from $475.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. Royal Bank of Canada raised their price target on Accenture from $430.00 to $435.00 and gave the company an “outperform” rating in a research report on Friday, March 18th. StockNews.com assumed coverage on Accenture in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group decreased their price objective on Accenture from $446.00 to $386.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 15th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has an average rating of “Buy” and a consensus target price of $384.28.

Shares of NYSE:ACN opened at $276.50 on Tuesday. Accenture has a 1 year low of $268.17 and a 1 year high of $417.37. The firm has a market capitalization of $175.28 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24. The firm’s 50-day moving average is $303.55 and its two-hundred day moving average is $334.11.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings data on Thursday, March 17th. The information technology services provider reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.18. The business had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $14.67 billion. Accenture had a return on equity of 31.16% and a net margin of 11.28%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 earnings per share. As a group, equities analysts forecast that Accenture will post 10.8 earnings per share for the current fiscal year.

In other Accenture news, CEO Julie Spellman Sweet sold 3,287 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $315.22, for a total value of $1,036,128.14. Following the completion of the transaction, the chief executive officer now owns 19,836 shares of the company’s stock, valued at approximately $6,252,703.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 750 shares of the stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $310.55, for a total value of $232,912.50. Following the completion of the transaction, the insider now directly owns 21,846 shares of the company’s stock, valued at $6,784,275.30. The disclosure for this sale can be found here. Insiders sold 10,757 shares of company stock worth $3,386,681 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. HHM Wealth Advisors LLC bought a new stake in Accenture during the 4th quarter worth approximately $31,000. Citizens National Bank Trust Department bought a new position in Accenture in the 4th quarter valued at $31,000. Ten Capital Wealth Advisors LLC boosted its position in shares of Accenture by 111.1% in the 4th quarter. Ten Capital Wealth Advisors LLC now owns 76 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 40 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in shares of Accenture in the 1st quarter worth $29,000. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in Accenture during the 4th quarter worth $37,000. 74.46% of the stock is owned by institutional investors and hedge funds.

About Accenture (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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