Phillips Wealth Planners LLC Buys 1,144 Shares of Accenture PLC $ACN

Key Points

• Phillips Wealth Planners LLC increased its stake in Accenture PLC by 31.6% in Q2, acquiring an additional 1,144 shares, bringing its total holdings to 4,763 shares valued at $1,445,000.
• Insider transactions revealed that CEO Mauro Macchi sold 500 shares worth $141,170, resulting in a 17.97% decrease in his position, while another insider, Angela Beatty, sold 203 shares.
• Accenture's quarterly earnings exceeded expectations with reported EPS of $3.49, beating the consensus estimate of $3.32, and revenue growth of 7.7% year-over-year.

Phillips Wealth Planners LLC lifted its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 31.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,763 shares of the information technology services provider's stock after purchasing an additional 1,144 shares during the period. Accenture comprises approximately 1.3% of Phillips Wealth Planners LLC's investment portfolio, making the stock its 8th largest holding. Phillips Wealth Planners LLC's holdings in Accenture were worth $1,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Accenture by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 63,814,234 shares of the information technology services provider's stock valued at $19,912,594,000 after buying an additional 3,419,577 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Accenture by 63.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,953,621 shares of the information technology services provider's stock valued at $2,793,889,000 after purchasing an additional 3,490,569 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Accenture by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 6,766,369 shares of the information technology services provider's stock valued at $2,111,378,000 after acquiring an additional 228,939 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Accenture by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,163,393 shares of the information technology services provider's stock worth $1,923,225,000 after purchasing an additional 126,548 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Accenture by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,129,053 shares of the information technology services provider's stock worth $1,600,470,000 after acquiring an additional 164,573 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares of the company's stock, valued at $2,290,387.05. The trade was a 21.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Beatty sold 203 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares of the company's stock, valued at $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,954 shares of company stock valued at $834,280. 0.02% of the stock is currently owned by insiders.

Accenture Stock Down 0.1%

Shares of ACN traded down $0.13 during mid-day trading on Monday, hitting $239.57. The company's stock had a trading volume of 6,036,513 shares, compared to its average volume of 3,673,221. The firm has a market capitalization of $150.05 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.07 and a beta of 1.29. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 52-week low of $234.18 and a 52-week high of $398.35. The company's 50-day moving average is $257.73 and its 200-day moving average is $289.02.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The company's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.13 earnings per share. On average, equities research analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ACN shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Accenture from $290.00 to $260.00 and set a "hold" rating on the stock in a research report on Thursday, September 11th. Mizuho set a $348.00 price objective on Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Barclays lowered their price target on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday, June 23rd. Morgan Stanley reduced their price objective on Accenture from $325.00 to $271.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 9th. Finally, Benchmark reaffirmed a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $335.61.

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.