Citigroup Lowers Accenture (NYSE:ACN) Price Target to $300.00

Accenture (NYSE:ACN – Get Rating) had its target price cut by analysts at Citigroup from $305.00 to $300.00 in a note issued to investors on Thursday, The Fly reports. Citigroup’s price objective would suggest a potential upside of 20.00% from the company’s current price.

A number of other analysts have also issued reports on ACN. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Accenture in a research report on Monday, March 13th. Robert W. Baird lowered their price objective on Accenture from $310.00 to $290.00 and set a “neutral” rating for the company in a report on Monday, December 19th. Jefferies Financial Group lowered their price objective on Accenture from $290.00 to $279.00 in a report on Monday, December 19th. Cowen boosted their price objective on Accenture from $295.00 to $300.00 in a report on Monday, December 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Accenture from $306.00 to $327.00 in a report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $316.50.

Accenture Stock Performance

Shares of NYSE ACN opened at $250.00 on Thursday. Accenture has a 1 year low of $242.80 and a 1 year high of $345.30. The firm has a market cap of $157.56 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.32 and a beta of 1.25. The stock’s 50-day simple moving average is $273.70 and its 200-day simple moving average is $275.16.

Accenture (NYSE:ACN – Get Rating) last announced its earnings results on Friday, December 16th. The information technology services provider reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.17. Accenture had a return on equity of 31.49% and a net margin of 11.31%. The business had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.58 billion. As a group, research analysts predict that Accenture will post 11.44 EPS for the current year.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 1,027 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $280.99, for a total transaction of $288,576.73. Following the completion of the transaction, the chief accounting officer now directly owns 11,467 shares in the company, valued at $3,222,112.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Ellyn Shook sold 5,250 shares of the business’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $276.08, for a total transaction of $1,449,420.00. Following the sale, the insider now owns 34,444 shares of the company’s stock, valued at $9,509,299.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 1,027 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $280.99, for a total value of $288,576.73. Following the sale, the chief accounting officer now directly owns 11,467 shares in the company, valued at approximately $3,222,112.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,015 shares of company stock worth $10,884,179. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Accenture

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Affiance Financial LLC bought a new stake in Accenture during the fourth quarter worth approximately $25,000. Tsfg LLC increased its holdings in shares of Accenture by 108.7% in the third quarter. Tsfg LLC now owns 96 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. My Personal CFO LLC bought a new position in shares of Accenture in the fourth quarter valued at $27,000. Mizuho Securities Co. Ltd. bought a new position in shares of Accenture in the fourth quarter valued at $27,000. Finally, EWG Elevate Inc. bought a new position in shares of Accenture in the fourth quarter valued at $32,000. Institutional investors own 73.97% of the company’s stock.

Accenture Company Profile

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.