Accenture plc [NYSE: ACN] traded at a low on Thursday, posting a -9.31 loss after which it closed the day’ session at $345.03. The company report on March 21, 2024 at 6:39 AM that Accenture Reports Second-Quarter Fiscal 2024 Results.
New bookings of $21.6 billion, the company’s second-highest ever.
Generative AI new bookings of over $600 million in the quarter for a total of $1.1 billion through the first half of the fiscal year.
The results of the trading session contributed to over 9569537 shares changing hands. Over the past one week, the price volatility of Accenture plc stands at 3.09% while the volatility over the past one month is 1.92%.
The market cap for ACN stock reached $216.33 billion, with 628.27 million shares outstanding and 625.34 million shares in the current float. Compared to the average trading volume of 1.98M shares, ACN reached a trading volume of 9569537 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Accenture plc [ACN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ACN shares is $393.51 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ACN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Susquehanna have made an estimate for Accenture plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on Mar-22-24. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on March 19, 2024, representing the official price target for Accenture plc stock. Previously, the target price had yet another raise to $426, while Mizuho analysts kept a Buy rating on ACN stock.
The Average True Range (ATR) for Accenture plc is set at 9.15, with the Price to Sales ratio for ACN stock in the period of the last 12 months amounting to 3.35. The Price to Book ratio for the last quarter was 8.00, with the Price to Cash per share for the same quarter was set at 8.18. Price to Free Cash Flow for ACN in the course of the last twelve months was 24.59 with Quick ratio for the last quarter at 1.26.
How has ACN stock performed recently?
Accenture plc [ACN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.77. With this latest performance, ACN shares dropped by -4.40% in over the last four-week period, additionally plugging by 8.91% over the last 6 months – not to mention a rise of 33.93% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACN stock in for the last two-week period is set at 32.62, with the RSI for the last a single of trading hit 25.92, and the three-weeks RSI is set at 37.65 for Accenture plc [ACN]. The present Moving Average for the last 50 days of trading for this stock 369.93, while it was recorded at 370.16 for the last single week of trading, and 331.36 for the last 200 days.
Accenture plc [ACN]: Deeper insight into the fundamentals
Accenture plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.26 and a Current Ratio set at 1.26.
Earnings analysis for Accenture plc [ACN]
With the latest financial reports released by the company, Accenture plc posted 2.69/share EPS, while the average EPS was predicted by analysts to be reported at 2.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Accenture plc go to 7.51%.
Insider trade positions for Accenture plc [ACN]
The top three institutional holders of ACN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ACN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ACN stock with ownership which is approximately 5.8325%.
