Cigna Investments Inc. New boosted its holdings in shares of Accenture Plc (NYSE:ACN) by 5.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 23,911 shares of the information technology services provider’s stock after buying an additional 1,150 shares during the period. Cigna Investments Inc. New’s holdings in Accenture were worth $3,905,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Connecticut Wealth Management LLC acquired a new position in Accenture during the fourth quarter worth $202,000. Solstein Capital LLC acquired a new stake in shares of Accenture in the fourth quarter valued at about $844,000. 10 15 Associates Inc. grew its position in shares of Accenture by 3.3% in the fourth quarter. 10 15 Associates Inc. now owns 67,255 shares of the information technology services provider’s stock valued at $14,162,000 after purchasing an additional 2,135 shares during the last quarter. Weaver Consulting Group grew its position in shares of Accenture by 47.9% in the first quarter. Weaver Consulting Group now owns 312 shares of the information technology services provider’s stock valued at $51,000 after purchasing an additional 101 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at about $463,000. 74.31% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. Societe Generale raised Accenture to a “buy” rating and set a $205.00 price target on the stock in a research report on Friday, March 27th. Piper Sandler initiated coverage on shares of Accenture in a research note on Thursday. They issued a “neutral” rating and a $196.00 target price for the company. Morgan Stanley cut their price target on shares of Accenture from $240.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Atlantic Securities initiated coverage on shares of Accenture in a research note on Wednesday, February 19th. They set an “overweight” rating and a $246.00 price target for the company. Finally, Moffett Nathanson upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research note on Friday, March 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $208.89.
In related news, insider Jean-Marc Ollagnier sold 4,499 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $175.21, for a total value of $788,269.79. Following the sale, the insider now directly owns 180,110 shares of the company’s stock, valued at approximately $31,557,073.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David Rowland sold 5,405 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $185.00, for a total transaction of $999,925.00. Following the completion of the sale, the chairman now directly owns 17,199 shares in the company, valued at $3,181,815. 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 in the last three months. 0.10% of the stock is owned by company insiders.
Shares of ACN stock traded up $0.21 on Friday, hitting $193.71. The stock had a trading volume of 1,317,507 shares, compared to its average volume of 2,188,446. Accenture Plc has a twelve month low of $137.15 and a twelve month high of $216.39. The firm has a market cap of $123.00 billion, a P/E ratio of 25.26, a PEG ratio of 2.56 and a beta of 1.05. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $176.96 and a two-hundred day moving average price of $191.64.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 19th. The information technology services provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.19. Accenture had a net margin of 11.13% and a return on equity of 32.87%. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.10 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. On average, analysts expect that Accenture Plc will post 7.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 16th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Wednesday, April 15th. Accenture’s dividend payout ratio (DPR) is 43.48%.
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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