Accenture (NYSE:ACN) Reaches New 12-Month Low After Analyst Downgrade

Accenture PLC (NYSE:ACN) shares reached a new 52-week low during mid-day trading on Tuesday after Wolfe Research lowered their price target on the stock from $290.00 to $285.00. Wolfe Research currently has an outperform rating on the stock. Accenture traded as low as $234.10 and last traded at $234.85, with a volume of 3494968 shares traded. The stock had previously closed at $239.99.

Other equities analysts also recently issued research reports about the company. TD Cowen dropped their price target on Accenture from $342.00 to $313.00 and set a “buy” rating on the stock in a research report on Tuesday, September 9th. Guggenheim dropped their price objective on Accenture from $335.00 to $305.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. BMO Capital Markets dropped their price objective on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a research report on Monday, June 23rd. Rothschild & Co Redburn raised their price objective on Accenture from $250.00 to $255.00 in a research report on Friday, September 19th. Finally, Morgan Stanley dropped their price objective on Accenture from $325.00 to $271.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $329.52.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.45, for a total value of $635,794.95. Following the sale, the chief executive officer directly owned 8,109 shares of the company’s stock, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela Beatty sold 203 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares in the company, valued at approximately $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,954 shares of company stock valued at $834,280. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Accenture

Several institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $34,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Accenture in the first quarter worth approximately $31,000. Inlight Wealth Management LLC acquired a new stake in shares of Accenture in the first quarter worth approximately $32,000. Finally, RMG Wealth Management LLC acquired a new stake in shares of Accenture in the second quarter worth approximately $33,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a 50 day moving average price of $256.10 and a 200-day moving average price of $287.94. The stock has a market capitalization of $147.32 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29.

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.