Horan Capital Advisors LLC. Has $3.68 Million Stock Position in Accenture plc (NYSE:ACN)

Horan Capital Advisors LLC. lowered its holdings in shares of Accenture plc (NYSE:ACN) by 13.4% in the fourth quarter, HoldingsChannel reports. The firm owned 10,446 shares of the information technology services provider’s stock after selling 1,612 shares during the period. Accenture makes up 1.2% of Horan Capital Advisors LLC.’s portfolio, making the stock its 23rd largest position. Horan Capital Advisors LLC.’s holdings in Accenture were worth $3,675,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new position in Accenture during the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. increased its holdings in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the third quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter valued at $30,000. Finally, POM Investment Strategies LLC boosted its position in Accenture by 64.2% during the fourth 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 during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $344.57 on Tuesday. 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 company has a fifty day moving average of $366.99 and a two-hundred day moving average of $358.24. The stock has a market capitalization of $215.63 billion, a PE ratio of 28.91, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

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

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.48, for a total transaction of $885,136.56. Following the sale, the chief executive officer now directly owns 28,866 shares in the company, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on ACN. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus cut their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets raised their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

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.