Accenture (NYSE:ACN) Given New $255.00 Price Target at BNP Paribas Exane

Accenture (NYSE:ACN) had its target price lowered by BNP Paribas Exane from $300.00 to $255.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a neutral rating on the information technology services provider’s stock.

ACN has been the topic of several other research reports. BMO Capital Markets decreased their target price on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a research note on Monday, June 23rd. Morgan Stanley reduced their price target 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. Guggenheim reduced their price target on Accenture from $335.00 to $305.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Rothschild Redb lowered Accenture from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Argus set a $370.00 price target on Accenture in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.83.

Accenture Price Performance

ACN opened at $239.29 on Wednesday. The stock’s 50-day moving average price is $255.29 and its 200 day moving average price is $287.60. Accenture has a 12-month low of $234.10 and a 12-month high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $149.87 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.03 and a beta of 1.29.

Insider Transactions at Accenture

In other news, insider Angela Beatty sold 203 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the sale, the insider owned 5,249 shares of the company’s stock, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,290,387.05. This trade represents a 21.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,954 shares of company stock valued at $834,280. Corporate insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACN. Park Square Financial Group LLC purchased a new position in Accenture during the 4th quarter worth approximately $31,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Accenture in the 1st quarter valued at approximately $31,000. Inlight Wealth Management LLC purchased a new position in shares of Accenture in the 1st quarter valued at approximately $32,000. RMG Wealth Management LLC purchased a new position in shares of Accenture in the 2nd quarter valued at approximately $33,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Accenture in the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Company Profile

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.