Cigna Investments Inc. New increased its holdings in Accenture Plc (NYSE:ACN) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,911 shares of the information technology services provider’s stock after acquiring an additional 1,150 shares during the quarter. Cigna Investments Inc. New’s holdings in Accenture were worth $3,905,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in ACN. Total Clarity Wealth Management Inc. acquired a new position in shares of Accenture in the fourth quarter worth about $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Accenture in the fourth quarter worth about $28,000. BerganKDV Wealth Management LLC lifted its stake in shares of Accenture by 136.1% in the fourth quarter. BerganKDV Wealth Management LLC now owns 144 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 83 shares in the last quarter. Islay Capital Management LLC acquired a new position in shares of Accenture in the fourth quarter worth about $31,000. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of Accenture by 200.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.31% of the company’s stock.
ACN stock traded up $0.21 on Friday, reaching $193.71. The company’s stock had a trading volume of 1,317,507 shares, compared to its average volume of 2,188,446. Accenture Plc has a 52 week low of $137.15 and a 52 week high of $216.39. The company has a market capitalization of $123.00 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 2.56 and a beta of 1.05. The firm has a fifty day moving average of $176.96 and a two-hundred day moving average of $191.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.38.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 16th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Wednesday, April 15th. Accenture’s dividend payout ratio (DPR) is 43.48%.
Several research analysts recently commented on the company. UBS Group cut their price target on Accenture from $205.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Piper Sandler started coverage on Accenture in a research note on Thursday. They set a “neutral” rating and a $196.00 price objective on the stock. Morgan Stanley cut their price objective on Accenture from $240.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Exane BNP Paribas started coverage on Accenture in a research note on Wednesday, April 15th. They set an “outperform” rating and a $215.00 price objective on the stock. Finally, Societe Generale upgraded Accenture to a “buy” rating and set a $205.00 price objective on the stock in a research note on Friday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $208.89.
In other Accenture news, Chairman David Rowland sold 2,119 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $178.63, for a total transaction of $378,516.97. Following the completion of the transaction, the chairman now directly owns 15,238 shares of the company’s stock, valued at approximately $2,721,963.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gianfranco Casati sold 3,682 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $180.00, for a total value of $662,760.00. Following the transaction, the chief executive officer now directly owns 26,014 shares of the company’s stock, valued at $4,682,520. The disclosure for this sale can be found here. Insiders sold a total of 23,221 shares of company stock valued at $4,169,477 over the last three months. Corporate insiders own 0.10% of the company’s stock.
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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