Kirtland Hills Capital Management LLC Acquires 148 Shares of Accenture plc (NYSE:ACN)

Kirtland Hills Capital Management LLC lifted its holdings in Accenture plc (NYSE:ACN) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,472 shares of the information technology services provider’s stock after acquiring an additional 148 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Accenture were worth $1,573,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ACN. Swedbank AB lifted its stake in Accenture by 16.6% in the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after purchasing an additional 363,401 shares during the last quarter. TCI Wealth Advisors Inc. bought a new stake in Accenture in the third quarter worth about $217,000. Autumn Glory Partners LLC lifted its stake in Accenture by 39.4% in the third quarter. Autumn Glory Partners LLC now owns 7,817 shares of the information technology services provider’s stock worth $2,763,000 after purchasing an additional 2,209 shares during the last quarter. Orrstown Financial Services Inc. lifted its stake in Accenture by 25.9% in the third quarter. Orrstown Financial Services Inc. now owns 884 shares of the information technology services provider’s stock worth $312,000 after purchasing an additional 182 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in Accenture by 8.1% in the third quarter. Pallas Capital Advisors LLC now owns 19,001 shares of the information technology services provider’s stock worth $6,921,000 after purchasing an additional 1,427 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. BMO Capital Markets raised their target price on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Jefferies Financial Group reduced their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and an average target price of $387.22.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last three months. Company insiders own 0.02% of the company’s stock.

Accenture Trading Down 0.2 %

NYSE:ACN opened at $363.22 on Wednesday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The firm has a fifty day simple moving average of $367.73 and a 200-day simple moving average of $357.32. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $227.30 billion, a P/E ratio of 30.47, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.27 earnings per share. On average, equities research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.