5 Best Advertising Agency Stocks to Buy

3. Accenture Plc (NYSE:ACN)

Number of Hedge Fund Holders: 63

Accenture Plc (NYSE:ACN) provides a variety of solutions in the advertising industry related to programmatic ads, using AI in ads, TV ads, multimedia ads and more.

As of the end of the fourth quarter of 2022, 63 hedge funds have stakes in Accenture Plc (NYSE:ACN). GuardCap Asset Management of Guardian Capital owns a $387 million stake in Accenture Plc (NYSE:ACN).

ClearBridge Sustainability Leaders Strategy made the following comment about Accenture plc (NYSE:ACN) in its Q4 2022 investor letter:

Accenture plc (NYSE:ACN) is a leading global professional services company that helps clients build their digital infrastructure and optimize their operations. We view Accenture as a resilient, high-quality business with consistent earnings and cash flow, a strong balance sheet and very attractive returns on capital. Secular drivers like cloud migration and digital transformation, as well as new, innovative technology deployments like data security, block chain, AI and machine learning position Accenture well for continued growth. It is also currently rolling out a suite of sustainability tools that offers a comprehensive view of a company’s goals, progress and performance across financial and ESG measures, so it is an enabler of ESG for its clients. We exited our position in software-as-a-service company Workday to fund the position, largely on better relative risk/reward, in our view.”