According to a report from MarketBeat.com, Accenture plc (NYSE:ACN) has received an average rating of “Moderate Buy” from the twenty-one research firms currently covering the company. Out of these, ten analysts have recommended holding the stock, while eleven have given a buy recommendation. The average twelve-month target price among these analysts is $352.33.
Several recent research reports have been published on Accenture. Wedbush lowered their price target from $400.00 to $350.00 and maintained an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft downgraded Accenture from a “buy” rating to a “hold” rating and reduced their price target from $409.00 to $295.00. The Goldman Sachs Group initiated coverage on Accenture with a “neutral” rating and a $335.00 price target. Jefferies Financial Group also lowered their target price from $340.00 to $275.00 and maintained a “hold” rating. Bank of America reduced their price target from $419.00 to $365.00 and maintained a “buy” rating.
In terms of recent financial performance, Accenture reported earnings per share (EPS) of $3.13 for the quarter ending June 20th, slightly below the consensus estimate of $3.15. The company’s return on equity was 27.48%, and it had a net margin of 10.79%. Revenue for the quarter was $16.47 billion, slightly lower than analyst estimates of $16.55 billion. Compared to the same period last year, Accenture’s revenue was down by 0.6%.
Accenture also recently announced a quarterly dividend, with shareholders of record on July 11th receiving a $1.29 dividend. This represents an annualized dividend of $5.16 and a dividend yield of 1.51%. The company’s payout ratio is currently 47.25%.
In terms of insider trading, General Counsel Joel Unruch sold 8,145 shares of Accenture stock at an average price of $331.05, totaling $2,696,402.25. CEO Julie Spellman Sweet also sold 3,776 shares at an average price of $309.05, amounting to $1,166,972.80. Insiders have sold a total of 21,421 shares valued at $6,912,635 over the past three months, with insiders owning 0.07% of the company’s stock.
Institutional investors have also made moves in relation to Accenture. Hedge funds have either increased or decreased their stakes in the company, with Unique Wealth Strategies LLC acquiring a new stake, Annapolis Financial Services LLC increasing their position, and Strategic Financial Concepts LLC and Ables Iannone Moore & Associates Inc. both acquiring new positions.
Accenture plc is a global professional services company that offers strategy and consulting, industry X, song, and technology and operation services. The company provides various services, including application services, intelligent automation, application management, strategy and consulting, data and analytics, metaverse, and sustainability services.