Is Accenture (ACN) a Great Long-Term Pick?

Baron Funds, an asset management firm, published its “Baron FinTech Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of 2.53% was delivered by the fund’s institutional shares for the fourth quarter of 2021, compared to its benchmarks, the S&P 500 Index, which appreciated 11.03%, and the FactSet Global FinTech Index which rose 7.68% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron FinTech Fund, in its Q4 2021 investor letter, mentioned Accenture plc (NYSE:ACN) and discussed its stance on the firm. Founded in 1989, Accenture plc (NYSE:ACN) is a Dublin, Ireland-based multinational professional services company with a $194.4 billion market capitalization, and is currently spearheaded by its CEO, Julie Sweet. Accenture plc (NYSE:ACN) delivered a -25.78% return since the beginning of the year, while its 12-month returns are up by 15.56%. The stock closed at $307.68 per share on March 14, 2022.

Here is what Baron FinTech Fund has to say about Accenture plc (NYSE:ACN) in its Q4 2021 investor letter:

“Consulting firm Accenture plc also performed well after reporting 27% revenue growth in the latest quarter and raised full-year guidance. Accenture plc provides consulting and technology services to corporate clients around the world. Shares increased on robust client demand, with 27% revenue growth and 28% EPS growth in the most recent quarter. Revenue and earnings exceeded expectations, leading management to raise full-year guidance to 16% to 19% revenue growth and 17% to 20% EPS growth. We believe Accenture is well equipped to help its clients pursue digital transformations and will continue gaining share in a large global market.”

Our calculations show that Accenture plc (NYSE:ACN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Accenture plc (NYSE:ACN) was in 50 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 56 funds in the previous quarter. Accenture plc (NYSE:ACN) delivered a -18.54% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Accenture plc (NYSE:ACN) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.