Analysts Offer Insights on Technology Companies: Accenture (NYSE: ACN) and Paychex (NASDAQ: PAYX)

By Carrie Williams

Analysts fell to the sidelines weighing in on Accenture (NYSE: ACN) and Paychex (NASDAQ: PAYX) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

Accenture (NYSE: ACN)

Robert W. Baird analyst David Koning reiterated a Hold rating on Accenture (NYSE: ACN) on December 21 and set a price target of $162. The company’s shares closed yesterday at $153.89, close to its 52-week high of $158.44.

According to TipRanks.com, Koning is a top 100 analyst with an average return of 17.4% and a 85.4% success rate. Koning covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Sykes Enterprises Inc.

Currently, the analyst consensus on Accenture is Moderate Buy and the average price target is $160.75, representing a 4.5% upside.

In a report released yesterday, Citigroup also maintained a Hold rating on the stock with a $159 price target.
Paychex (NASDAQ: PAYX)

Robert W. Baird analyst Mark Marcon reiterated a Hold rating on Paychex (NASDAQ: PAYX) on December 21 and set a price target of $71. The company’s shares closed yesterday at $68.27, close to its 52-week high of $70.39.

According to TipRanks.com, Marcon is a 5-star analyst with an average return of 19.7% and a 82.7% success rate. Marcon covers the Services sector, focusing on stocks such as AMN Healthcare Services Inc, Korn/Ferry International, and Resources Connection.

Currently, the analyst consensus on Paychex is Hold and the average price target is $67.57, representing a -1.0% downside.

In a report issued on December 15, Barclays also maintained a Hold rating on the stock with a $68 price target.

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