Citigroup Cuts Accenture (NYSE:ACN) Price Target to $195.00

Accenture (NYSE:ACN) had its price target cut by Citigroup from $215.00 to $195.00 in a report released on Monday,MarketScreener reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price target indicates a potential upside of 2.66% from the company’s previous close.

ACN has been the subject of a number of other research reports. HSBC lowered their price objective on shares of Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Truist Financial cut Accenture from a “buy” rating to a “hold” rating and set a $210.00 target price on the stock. in a report on Monday. Morgan Stanley dropped their price target on shares of Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. JPMorgan Chase & Co. boosted their target price on shares of Accenture from $243.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Accenture from $280.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, March 6th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average price target of $271.81.

Accenture Trading Up 1.5%

NYSE:ACN opened at $189.95 on Monday. The company has a market cap of $126.40 billion, a PE ratio of 15.69, a P/E/G ratio of 1.77 and a beta of 1.09. The business’s 50 day moving average is $185.71 and its two-hundred day moving average is $226.37. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture has a 52 week low of $155.82 and a 52 week high of $321.77.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 EPS. On average, analysts predict that Accenture will post 13.87 EPS for the current year.

Insider Activity

In other news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the sale, the chief executive officer owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This represents a 27.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Institutional Trading of Accenture

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Board of the Pension Protection Fund acquired a new position in shares of Accenture during the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new position in Accenture in the 4th quarter valued at $27,000. McMillan Office Inc. bought a new stake in shares of Accenture during the fourth quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Accenture during the fourth quarter valued at $27,000. Finally, Triumph Capital Management bought a new position in Accenture in the third quarter valued at about $26,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Company Profile

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.