Accenture (NYSE:ACN) Upgraded to “Buy” by StockNews.com

Accenture (NYSE:ACN – Get Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Accenture from $357.00 to $335.00 and set an “outperform” rating for the company in a report on Friday, September 23rd. Cowen lifted their price target on shares of Accenture from $295.00 to $300.00 in a report on Monday, December 19th. Cowen cut their price target on shares of Accenture from $325.00 to $295.00 in a report on Friday, September 23rd. Piper Sandler downgraded shares of Accenture from a “neutral” rating to an “underweight” rating and set a $268.00 price target for the company. in a report on Monday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Accenture from $306.00 to $327.00 in a research note on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.78.

Accenture Stock Performance

NYSE:ACN opened at $282.14 on Thursday. Accenture has a 52 week low of $242.95 and a 52 week high of $360.10. The company has a market capitalization of $177.82 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 2.47 and a beta of 1.23. The company has a 50-day moving average of $280.55 and a 200-day moving average of $282.10.

Insider Transactions at Accenture

In other news, insider James O. Etheredge sold 1,790 shares of Accenture stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $259.75, for a total transaction of $464,952.50. Following the completion of the sale, the insider now owns 17,127 shares in the company, valued at approximately $4,448,738.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Julie Spellman Sweet sold 8,600 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $266.93, for a total transaction of $2,295,598.00. Following the completion of the transaction, the chief executive officer now owns 44,759 shares in the company, valued at $11,947,519.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James O. Etheredge sold 1,790 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $259.75, for a total transaction of $464,952.50. Following the transaction, the insider now owns 17,127 shares of the company’s stock, valued at approximately $4,448,738.25. The disclosure for this sale can be found here. Insiders sold a total of 37,320 shares of company stock worth $9,989,748 in the last quarter. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Klingman & Associates LLC boosted its holdings in shares of Accenture by 3.7% in the second quarter. Klingman & Associates LLC now owns 993 shares of the information technology services provider’s stock valued at $276,000 after buying an additional 35 shares during the period. Bray Capital Advisors boosted its holdings in shares of Accenture by 0.3% in the second quarter. Bray Capital Advisors now owns 11,292 shares of the information technology services provider’s stock valued at $3,135,000 after buying an additional 35 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Accenture by 0.7% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 5,130 shares of the information technology services provider’s stock valued at $1,424,000 after buying an additional 35 shares during the period. Simmons Bank boosted its holdings in shares of Accenture by 0.5% in the third quarter. Simmons Bank now owns 7,260 shares of the information technology services provider’s stock valued at $1,868,000 after buying an additional 36 shares during the period. Finally, Cadence Bank lifted its position in shares of Accenture by 0.7% in the first quarter. Cadence Bank now owns 4,999 shares of the information technology services provider’s stock worth $1,686,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.

Accenture Company Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, 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 comprises 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 comprises turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.