Accenture (NYSE:ACN) Price Target Increased to $215.00 by Analysts at UBS Group
Accenture (NYSE:ACN) had its target price lifted by UBS Group from $160.00 to $215.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.
A number of other brokerages have also weighed in on ACN. Cowen lifted their price objective on Accenture from $175.00 to $210.00 and gave the company an outperform rating in a report on Friday, June 19th. Morgan Stanley lifted their price objective on Accenture from $185.00 to $230.00 and gave the company an overweight rating in a report on Tuesday, June 23rd. Piper Sandler initiated coverage on Accenture in a report on Thursday, May 21st. They issued a neutral rating and a $196.00 price objective on the stock. BNP Paribas lowered Accenture from an outperform rating to a neutral rating in a research note on Wednesday, June 3rd. Finally, Zacks Investment Research lowered Accenture from a hold rating to a sell rating and set a $196.00 price target on the stock. in a research note on Wednesday, April 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $219.44.
Shares of ACN stock opened at $212.72 on Friday. The stock has a market capitalization of $134.08 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.06. Accenture has a 52-week low of $137.15 and a 52-week high of $217.89. The stock’s 50-day moving average price is $199.62 and its 200 day moving average price is $193.06. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 16th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, July 15th. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. Accenture’s dividend payout ratio is currently 43.48%.
In other Accenture news, CEO Gianfranco Casati sold 3,682 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $180.00, for a total value of $662,760.00. Following the completion of the transaction, the chief executive officer now directly owns 26,014 shares in the company, valued at approximately $4,682,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David Rowland sold 5,405 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $185.00, for a total value of $999,925.00. Following the completion of the transaction, the chairman now owns 17,199 shares of the company’s stock, valued at $3,181,815. The disclosure for this sale can be found here. Insiders have sold a total of 23,221 shares of company stock valued at $4,169,477 over the last 90 days. Insiders own 0.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in Accenture by 0.9% in the 1st quarter. State Street Corp now owns 26,989,659 shares of the information technology services provider’s stock valued at $4,406,390,000 after acquiring an additional 235,852 shares during the last quarter. NovaPoint Capital LLC raised its holdings in Accenture by 1.1% in the 1st quarter. NovaPoint Capital LLC now owns 9,291 shares of the information technology services provider’s stock valued at $1,517,000 after acquiring an additional 103 shares during the last quarter. Pathstone Family Office LLC raised its holdings in Accenture by 50.7% in the 1st quarter. Pathstone Family Office LLC now owns 612 shares of the information technology services provider’s stock valued at $100,000 after acquiring an additional 206 shares during the last quarter. Core Alternative Capital raised its holdings in Accenture by 139.9% in the 1st quarter. Core Alternative Capital now owns 28,647 shares of the information technology services provider’s stock valued at $4,677,000 after acquiring an additional 16,704 shares during the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Accenture by 1.0% in the 1st quarter. Confluence Investment Management LLC now owns 142,374 shares of the information technology services provider’s stock valued at $23,244,000 after acquiring an additional 1,432 shares during the last quarter. Institutional investors own 73.64% of the company’s stock.
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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