12 Best Consulting Stocks to Buy According to Hedge Funds

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1. Accenture plc (NYSE:ACN)

Number of Hedge Fund Investors: 79

The Best Consulting stock, Accenture plc (NYSE:ACN) is also one of the world’s major IT services organizations. It offers both consulting and outsourced services. Its growth will continue to be strong due to the continuation of digital transformation trends and a long-term AI deployment trend. The firm will continue to dominate the IT services industry and maintain its broad economic moat due to the company’s well-known reputation, which Morning analysts consider crucial for the consulting business, and its proven ability to apply expertise to a variety of enterprise difficulties.

The company just disclosed its Q2 FY 2025 earnings, which showed an 8.5% revenue gain in Euros. In terms of USD, revenue growth was 5%. This gain was mostly driven by an 11% rise in the Americas area. Gross margins fell marginally from the previous year.

The estimated revenue for Q3 FY2025 is between $16.9 billion and $17.5 billion, taking into account a foreign exchange rate effect of about -0.5 percent. According to the projection, Accenture plc (NYSE:ACN) anticipates making up to $3 billion in acquisitions this fiscal year, with a focus on important growth areas. In local currency, sales growth is predicted to range between 5% and 7% in the fiscal year 2025.

Baird Equity Research raised Accenture plc (NYSE:ACN) from Neutral to Outperform, with a $390 target price. Analysts highlighted that the company’s stock has declined in recent years due to sluggish IT demand and concerns about government budget limitations. Despite this, they foresee a rise in the firm’s Q2 2025 earnings and solid Managed Services demand.

Overall, Accenture plc (NYSE:ACN) ranks first on our list of the 12 Best Consulting Stocks to Buy According to Hedge Funds. While we acknowledge the potential for ACN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ACN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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