5 Tech Stocks to Buy Now According to Barry Dargan’s Intermede Investment Partners

2. Accenture plc (NYSE:ACN)

Intermede Investment Partners’ Stake Value: $230,291,000
Intermede Investment Partners’ 13F Portfolio: 4.74%
Number of Hedge Fund Holders: 50

Accenture plc (NYSE:ACN) is a global professional services firm established in Ireland, specializing in information technology consulting and services. It has operations in 55 countries and serves clients in over 120 countries. The Fortune Global 100 and more than 75% of the Fortune Global 500 companies are among Accenture plc (NYSE:ACN)’s clientele.

Intermede Investment Partners has held a stake in Accenture plc (NYSE:ACN) since Q4 2015, and as of the fourth quarter of 2021, the hedge fund owned 555,520 shares of the company, worth $230.29 million. Intermede Investment Partners strengthened its position in Accenture plc (NYSE:ACN) by 6% in Q4 2021, and the stock represented 4.74% of the total portfolio.

In the fourth quarter of 2021, 50 hedge funds monitored by Insider Monkey were bullish on Accenture plc (NYSE:ACN), compared to 56 funds the previous quarter. In Q4, the total stakes held were $5.12 billion.

Accenture plc (NYSE:ACN) bought akzente, a well-known sustainability consultant based in Munich, Germany, on May 2 for an undisclosed sum. Baird analyst David Koning boosted his price objective on Accenture plc (NYSE:ACN) from $360 to $378 on April 8 and maintained a Neutral rating on the stock.

ClearBridge Investments, in its Q4 2021 investor letter, mentioned Accenture plc (NYSE:ACN). Here is what the fund has to say:

“We were quite active during the quarter, leveraging volatility to add 10 new names to the portfolio while exiting seven others. Among our new purchases was Accenture. Ireland-based Accenture is the leading IT professional services company that offers the full life cycle of IT services including consulting, implementation and outsourcing. It is a key partner of organizations going through digital transformation and cloud adoption and we view the company as an agnostic way to gain exposure to the compressed digital transformation cycle that is occurring across all industries post COVID-19.”