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

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

A number of other hedge funds have also recently made changes to their positions in the stock. Morse Asset Management Inc bought a new position in Accenture in the 3rd quarter valued at approximately $25,000. FPC Investment Advisory Inc. lifted its position in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in Accenture in the 3rd quarter valued at approximately $30,000. POM Investment Strategies LLC lifted its position in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Accenture in the 4th quarter valued at approximately $34,000. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 0.2 %

Shares of ACN stock opened at $363.22 on Wednesday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $227.30 billion, a PE ratio of 30.47, a PEG ratio of 3.23 and a beta of 1.24. The stock has a fifty day simple moving average of $367.73 and a two-hundred day simple moving average of $357.32.

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

Insider Activity

In other news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the topic of several analyst reports. Piper Sandler upped their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. UBS Group upped their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Jefferies Financial Group lowered their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

About Accenture

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.