Accenture (NYSE:ACN) Price Target Lowered to $300.00 at Evercore ISI

Accenture (NYSE:ACN) had its target price trimmed by Evercore ISI from $330.00 to $300.00 in a research note published on Wednesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the information technology services provider’s stock.

Several other analysts have also recently issued reports on ACN. TD Cowen cut their price objective on Accenture from $342.00 to $313.00 and set a “buy” rating on the stock in a research note on Tuesday, September 9th. Morgan Stanley lowered their target price on Accenture from $325.00 to $271.00 and set an “equal weight” rating for the company in a report on Tuesday, September 9th. Guggenheim lowered their target price on Accenture from $335.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Stifel Nicolaus lowered their target price on Accenture from $355.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, Hsbc Global Res raised Accenture to a “moderate sell” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.83.

Accenture Trading Up 1.6%

Shares of NYSE ACN opened at $239.29 on Wednesday. The stock’s 50 day moving average price is $255.29 and its two-hundred day moving average price is $287.60. Accenture has a 52-week low of $234.10 and a 52-week high of $398.35. The stock has a market capitalization of $149.87 billion, a P/E ratio of 19.05, a PEG ratio of 2.03 and a beta of 1.29. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 2,251 shares of the 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 completion of the transaction, the chief executive officer directly owned 8,109 shares of the company’s stock, valued at $2,290,387.05. This represents a 21.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 203 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the transaction, the insider directly owned 5,249 shares of the company’s stock, valued at $1,482,002.66. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,954 shares of company stock valued at $834,280 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accenture

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Accenture during the 4th quarter valued at $31,000. Kelly Lawrence W & Associates Inc. CA bought a new position in Accenture during the 1st quarter valued at $31,000. Inlight Wealth Management LLC bought a new position in Accenture during the 1st quarter valued at $32,000. RMG Wealth Management LLC bought a new position in Accenture during the 2nd quarter valued at $33,000. Finally, Howard Hughes Medical Institute bought a new position in Accenture during the 2nd quarter valued at $40,000. 75.14% of the stock is owned by institutional investors.

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.