Accenture’s stock price target has been raised from $205.00 to $210.00 by Rothschild & Co Redburn, according to a report released on Monday. The investment firm currently maintains a neutral rating on the information technology services provider. This adjustment reflects ongoing interest and analysis surrounding Accenture’s performance in the market.
Several other financial institutions have also recently updated their assessments of Accenture’s stock. On September 26, Robert W. Baird reduced its price target from $350.00 to $330.00 while assigning an “outperform” rating. In another report dated December 11, Wolfe Research increased its target price from $300.00 to $330.00 with the same “outperform” rating. Meanwhile, Susquehanna raised its target from $270.00 to $277.00, maintaining a neutral outlook.
Further insights were provided by BMO Capital Markets, which reiterated a “market perform” rating and set a target price at $300.00 on December 18. Similarly, UBS Group established a price target of $320.00 on December 19. The consensus rating for Accenture’s stock is currently categorized as a “Moderate Buy,” with an average target price of $295.84, according to MarketBeat.
Accenture’s latest quarterly earnings, announced on December 18, 2023, revealed earnings per share (EPS) of $3.94, surpassing analysts’ expectations of $3.73 by $0.21. The company’s revenue reached $18.74 billion, exceeding the consensus estimate of $18.51 billion. This performance marks a 5.7% increase in revenue compared to the same quarter last year, during which it reported an EPS of $3.59. Looking ahead, Accenture has set its fiscal year 2026 guidance at EPS between $13.520 and $13.900.
In addition to financial performance, Accenture has confirmed a quarterly dividend of $1.63, payable on February 13, 2024. Shareholders on record as of January 13, 2024, will receive this dividend. This annualized dividend totals $6.52, yielding approximately 2.4%. The company’s current dividend payout ratio stands at 53.88%.
In terms of insider activity, CEO Julie Spellman Sweet sold 5,917 shares on November 5, 2023, at an average price of $246.62, totaling around $1.46 million. Following this transaction, she retains 8,599 shares valued at approximately $2.12 million. Meanwhile, CEO Ryoji Sekido sold 2,500 shares on October 22, 2023, for around $623,675. Insiders collectively sold 35,151 shares valued at over $8.84 million during the last quarter, with company insiders holding 0.02% of the stock.
Institutional investors have also been active regarding Accenture’s shares. Vanguard Group Inc. raised its stake by 2.1% in the second quarter, now owning over 65 million shares valued at approximately $19.47 billion. Additionally, State Street Corp. increased its stake by 0.4% in the third quarter, owning 28 million shares valued at about $6.94 billion. Other notable investors include Capital International Investors and Geode Capital Management LLC, which have significantly increased their holdings as well.
Accenture operates as a global professional services company, offering diverse services in strategy, consulting, digital, technology, and operations. The firm collaborates with organizations across various sectors to implement business transformation programs and enhance enterprise technology, operations, and customer experiences.
With an evolving landscape and ongoing evaluations from analysts, Accenture continues to attract attention from both institutional investors and market analysts, suggesting a robust position in the information technology sector.
