Accenture (NYSE:ACN) Hits New 1-Year Low – Here’s Why

Accenture PLC (NYSE:ACN)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $173.65 and last traded at $177.6020, with a volume of 1196633 shares. The stock had previously closed at $180.26.

Analyst Ratings Changes

ACN has been the topic of several research analyst reports. BMO Capital Markets dropped their price objective on Accenture from $300.00 to $230.00 and set a “market perform” rating on the stock in a research note on Friday, March 20th. Morgan Stanley dropped their price objective on Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Wells Fargo & Company raised their price objective on Accenture from $251.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Berenberg Bank assumed coverage on Accenture in a research note on Thursday, January 22nd. They issued a “buy” rating and a $313.00 price target on the stock. Finally, Royal Bank Of Canada dropped their price target on Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.50.

Accenture Price Performance

The company has a 50 day simple moving average of $197.17 and a 200-day simple moving average of $236.29. The stock has a market cap of $119.09 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.68 and a beta of 1.24. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last released 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. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. During the same quarter last year, the business posted $2.82 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts expect that Accenture PLC will post 13.87 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be issued a $1.63 dividend. The ex-dividend date is Thursday, April 9th. This represents a $6.52 annualized dividend and a dividend yield of 3.6%. Accenture’s dividend payout ratio (DPR) is presently 53.40%.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 6,057 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the transaction, the chief executive officer owned 15,255 shares in the company, valued at $3,679,963.65. This trade represents a 28.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Accenture

Several hedge funds have recently modified their holdings of ACN. Harbor Capital Advisors Inc. grew its holdings in Accenture by 132.6% during the third quarter. Harbor Capital Advisors Inc. now owns 107 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 61 shares during the period. Triumph Capital Management bought a new position in Accenture during the third quarter worth about $26,000. Board of the Pension Protection Fund bought a new position in Accenture during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC bought a new position in Accenture during the fourth quarter worth about $27,000. Finally, McMillan Office Inc. bought a new position in Accenture during the fourth quarter worth about $27,000. Institutional investors own 75.14% of the company’s stock.

About Accenture

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.