5 Best Global Stocks To Buy Now

Page 5 of 5

1. Accenture plc (NYSE:ACN)

Number of Hedge Fund Holders: 61

Accenture plc (NYSE:ACN) was founded in 1951 and is based in Dublin, Ireland. It is a professional services company, offering strategy, consulting, and technology services worldwide. On September 22, Accenture plc (NYSE:ACN) declared a $1.12 per share quarterly dividend, a 15.5% increase from its prior dividend of $0.97. The dividend is payable on November 15, to shareholders of record on October 13. Accenture plc (NYSE:ACN) has also recently approved $3 billion in additional share repurchase capacity, bringing total repurchase authority to approximately $6.1 billion.

On September 26, Barclays analyst Ramsey El-Assal maintained an Overweight rating on Accenture plc (NYSE:ACN) but lowered the price target on the shares to $340 from $370. The analyst updated his model for the company.

According to Insider Monkey’s data, 61 hedge funds held stakes worth $3.16 billion in Accenture plc (NYSE:ACN) at the end of Q2 2022, compared to 63 funds in the prior quarter worth $3.95 billion. Nicolai Tangen’s Ako Capital is the largest stakeholder of the company, with 2.3 million shares valued at more than $636 million. 

Here is what Baron Durable Advantage Fund has to say about Accenture plc (NYSE:ACN) in its Q2 2022 investor letter:

“Accenture plc provides consulting and technology services to corporate clients worldwide. Quarterly financial results exceeded Street expectations with 22% revenue growth and 23% operating income growth. However, shares fell 17.5% during the quarter due to adverse foreign currency movements weighing on next quarter’s guidance and investor concerns about macroeconomic uncertainty impacting client demand. We believe demand for Accenture’s services will be resilient over the long term and the company will continue gaining share in a large global market helping its clients digitally transform.”

You can also take a look at 10 Best Cyclical Stocks To Buy in 2022 and 14 Best Financial Stocks To Invest In.

Page 5 of 5