Accenture (NYSE:ACN) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Accenture (NYSE:ACN) was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat reports. They currently have a $295.00 price objective on the information technology services provider’s stock, down from their previous price objective of $409.00. Deutsche Bank Aktiengesellschaft’s price target points to a potential downside of 4.22% from the company’s previous close.

ACN has been the topic of several other research reports. Susquehanna reiterated a “neutral” rating and issued a $360.00 price target (down previously from $400.00) on shares of Accenture in a report on Thursday, March 21st. Royal Bank of Canada raised their price target on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Mizuho restated a “buy” rating and set a $398.00 target price (down previously from $426.00) on shares of Accenture in a report on Friday, March 22nd. BMO Capital Markets reduced their target price on Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a report on Friday, March 22nd. Finally, Morgan Stanley raised their target price on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $381.67.

Accenture Stock Performance

Shares of ACN stock opened at $308.00 on Wednesday. The stock’s fifty day moving average is $330.05 and its 200-day moving average is $342.39. The stock has a market capitalization of $206.59 billion, a PE ratio of 27.92, a PEG ratio of 2.91 and a beta of 1.21. Accenture has a 52 week low of $280.23 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.69 earnings per share. As a group, analysts forecast that Accenture will post 12.09 earnings per share for the current fiscal year.

Insider Activity at Accenture

In related news, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the sale, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the transaction, the chief operating officer now directly owns 17,877 shares in the company, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. boosted its stake in shares of Accenture by 8.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after acquiring an additional 27 shares during the period. Brave Asset Management Inc. boosted its stake in shares of Accenture by 2.8% during the 4th quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock worth $361,000 after acquiring an additional 28 shares during the period. Addison Advisors LLC boosted its stake in shares of Accenture by 0.9% during the 4th quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock worth $1,116,000 after acquiring an additional 28 shares during the period. Searle & CO. boosted its stake in shares of Accenture by 3.6% during the 4th quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock worth $282,000 after acquiring an additional 28 shares during the period. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of Accenture by 2.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock worth $478,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

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.