Accenture (NYSE:ACN) Price Target Raised to $190.00 at Jefferies Financial Group

Accenture (NYSE:ACN) had its price target upped by investment analysts at Jefferies Financial Group from $130.00 to $190.00 in a report released on Tuesday. The firm currently has a “hold” rating on the information technology services provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 4.12% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Citigroup increased their target price on Accenture from $135.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, August 24th. Berenberg Bank lowered their target price on Accenture from $273.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. BMO Capital Markets boosted their price target on Accenture from $150.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday. Stifel Nicolaus decreased their target price on shares of Accenture from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada set a $195.00 price target on Accenture in a report on Tuesday, September 15th. Ten research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Hold” and a consensus price target of $200.07.

Accenture Stock Performance

NYSE ACN opened at $182.47 on Tuesday. The company has a fifty day moving average of $174.92 and a 200-day moving average of $174.31. Accenture has a 52-week low of $118.15 and a 52-week high of $291.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $121.86 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.51 and a beta of 1.10.

Accenture declared that its board has initiated a stock repurchase plan on Tuesday, June 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, General Counsel Joel Unruch sold 10,498 shares of Accenture stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the completion of the transaction, the general counsel directly owned 17,735 shares of the company’s stock, valued at $2,890,450.30. The trade was a 37.18% 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. 0.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accenture

A number of large investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. grew its position in Accenture by 33.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 30,041 shares of the information technology services provider’s stock worth $3,738,000 after acquiring an additional 7,591 shares during the period. Andra AP fonden grew its stake in shares of Accenture by 92.5% in the second quarter. Andra AP fonden now owns 121,326 shares of the information technology services provider’s stock worth $15,098,000 after acquiring an additional 58,300 shares in the last quarter. Smith Chas P & Associates PA Cpas increased its position in shares of Accenture by 8.3% during the second quarter. Smith Chas P & Associates PA Cpas now owns 172,023 shares of the information technology services provider’s stock worth $21,406,000 after acquiring an additional 13,244 shares during the period. National Pension Service boosted its stake in shares of Accenture by 5.6% in the 2nd quarter. National Pension Service now owns 1,564,857 shares of the information technology services provider’s stock valued at $194,731,000 after buying an additional 82,362 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in Accenture by 5.2% in the second quarter. Engineers Gate Manager LP now owns 15,708 shares of the information technology services provider’s stock valued at $1,955,000 after acquiring an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Key Accenture News

Here are the key news stories impacting Accenture this week:

• Positive Sentiment: Accenture and Anthropic announced a strategic AI-safety partnership in which each company expects to invest at least $1 billion over five years. The arrangement could create demand for model testing, safeguards and enterprise AI implementation services, helping position Accenture (ACN) as an AI governance leader. Can Accenture Profit From AI Safety While AI Pressures Its Own Business Model?
• Positive Sentiment: The company launched Accenture Construct, a platform intended to improve delivery of large, complex capital projects. Investors may view the offering as a way to capture spending from infrastructure and other major investment programs while applying AI and automation to a fragmented market. Accenture Launches Accenture Construct
• Positive Sentiment: Accenture is broadening its commercial AI ecosystem through AWS offerings for mid-sized businesses, a Google Cloud relationship and Volvo Cars’ adoption of its Horizon platform for Android Automotive development. These deals support the view that cloud modernization and enterprise AI could offset slower legacy consulting demand. Accenture and AWS Launch AI and Cloud Offerings
• Neutral Sentiment: Investors are positioning ahead of Accenture’s quarterly earnings report, with analysts revising expectations and estimates. The results and management’s comments on bookings, margins and AI demand are likely to determine whether the recent rebound can continue. Wall Street Forecasters Revamp Accenture Expectations
• Negative Sentiment: Analysts caution that generative AI may reduce consulting hours, weaken pricing power and pressure margins. Accenture’s valuation has improved after a sharp three-month rebound, potentially limiting near-term upside despite shares remaining well below their 52-week high. AI Is Coming for Consulting, but Accenture Is Fighting Back

About Accenture

Accenture plc is a global professional services company that helps organizations improve business performance through consulting, technology, and managed services. Its offerings include strategy and consulting, technology implementation, operations support, and business process services.

The company provides digital transformation services involving cloud computing, artificial intelligence, data and analytics, cybersecurity, systems integration, and enterprise software. Through its Song and Industry X businesses, Accenture also supports customer experience, marketing, product engineering, and smart manufacturing initiatives.

Accenture serves clients across a broad range of industries, including financial services, health care, public service, communications, media and technology, consumer goods, retail, resources, and industrial markets.