Mizuho Cuts Accenture (NYSE:ACN) Price Target to $280.00

Accenture (NYSE:ACNFree Report) had its price objective trimmed by Mizuho from $309.00 to $280.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the information technology services provider’s stock.

Several other equities analysts have also recently issued reports on ACN. Susquehanna raised their price objective on Accenture from $270.00 to $277.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Truist Financial dropped their target price on shares of Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Wolfe Research raised their price target on shares of Accenture from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. UBS Group reaffirmed a “buy” rating on shares of Accenture in a research report on Tuesday, March 17th. Finally, HSBC upgraded shares of Accenture from a “reduce” rating to a “hold” rating and set a $220.00 price objective on the stock in a research note on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $274.88.

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Accenture Stock Down 0.8%

NYSE:ACN opened at $192.01 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $118.20 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.84 and a beta of 1.27. Accenture has a one year low of $187.00 and a one year high of $325.71. The stock has a 50-day simple moving average of $229.16 and a 200 day simple moving average of $245.45.

Accenture (NYSE:ACNGet Free Report) last released its earnings results on Thursday, March 19th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.Accenture’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 EPS. Sell-side analysts predict that Accenture will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, April 9th. Accenture’s dividend payout ratio is currently 53.40%.

Insider Activity

In other Accenture news, insider Manish Sharma sold 2,731 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $288.13, for a total value of $786,883.03. Following the completion of the sale, the insider directly owned 7,057 shares in the company, valued at $2,033,333.41. This represents a 27.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John F. Walsh sold 3,986 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $276.38, for a total value of $1,101,650.68. Following the transaction, the chief executive officer directly owned 27,221 shares of the company’s stock, valued at approximately $7,523,339.98. The trade was a 12.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,088 shares of company stock worth $5,970,434 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Accenture

A number of institutional investors and hedge funds have recently modified their holdings of ACN. Brighton Jones LLC increased its stake in Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after purchasing an additional 4,905 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Accenture by 46.9% during the second quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock valued at $618,000 after buying an additional 660 shares in the last quarter. United Bank boosted its holdings in shares of Accenture by 49.8% in the second quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock worth $1,088,000 after buying an additional 1,209 shares during the period. Cozad Asset Management Inc. purchased a new position in shares of Accenture in the second quarter worth approximately $200,000. Finally, American Century Companies Inc. raised its holdings in shares of Accenture by 15.2% during the second quarter. American Century Companies Inc. now owns 516,656 shares of the information technology services provider’s stock valued at $154,424,000 after acquiring an additional 68,060 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture News Summary

Here are the key news stories impacting Accenture this week:

About Accenture

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Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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Analyst Recommendations for Accenture (NYSE:ACN)

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