Hedge Funds Are Betting On Accenture Plc (ACN)

Page 1 of 2

Accenture Plc (NYSE:ACN) was in 28 hedge funds’ portfolio at the end of March. ACN investors should be aware of an increase in hedge fund sentiment recently. There were 24 hedge funds in our database with ACN holdings at the end of the previous quarter.

Accenture Plc (NYSE:ACN)

In today’s marketplace, there are plenty of metrics shareholders can use to analyze Mr. Market. A couple of the best are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top hedge fund managers can outclass the S&P 500 by a superb margin (see just how much).

Just as key, positive insider trading sentiment is a second way to break down the financial markets. There are many incentives for an executive to get rid of shares of his or her company, but just one, very simple reason why they would buy. Several academic studies have demonstrated the valuable potential of this method if you know what to do (learn more here).

With these “truths” under our belt, it’s important to take a look at the latest action encompassing Accenture Plc (NYSE:ACN).

Hedge fund activity in Accenture Plc (NYSE:ACN)

At Q1′s end, a total of 28 of the hedge funds we track were bullish in this stock, a change of 17% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes considerably.

When looking at the hedgies we track, Paul Ruddock and Steve Heinz’s Lansdowne Partners had the most valuable position in Accenture Plc (NYSE:ACN), worth close to $692 million, comprising 9.5% of its total 13F portfolio. On Lansdowne Partners’s heels is Columbus Circle Investors, managed by Donald Chiboucis, which held a $156.3 million position; the fund has 1.2% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include Cliff Asness’s AQR Capital Management, Phill Gross and Robert Atchinson’s Adage Capital Management and John W. Rogers’s Ariel Investments.

Consequently, key money managers were leading the bulls’ herd. AQR Capital Management, managed by Cliff Asness, initiated the most outsized position in Accenture Plc (NYSE:ACN). AQR Capital Management had 97.8 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made a $5.6 million investment in the stock during the quarter. The other funds with new positions in the stock are D. E. Shaw’s D E Shaw, John Overdeck and David Siegel’s Two Sigma Advisors, and Joel Greenblatt’s Gotham Asset Management.

How are insiders trading Accenture Plc (NYSE:ACN)?

Insider buying is particularly usable when the company in question has experienced transactions within the past six months. Over the latest six-month time frame, Accenture Plc (NYSE:ACN) has seen zero unique insiders buying, and 11 insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to Accenture Plc (NYSE:ACN). These stocks are Gartner Inc (NYSE:IT), Rackspace Hosting, Inc. (NYSE:RAX), Computer Sciences Corporation (NYSE:CSC), Xerox Corporation (NYSE:XRX), and Wipro Limited (ADR) (NYSE:WIT). This group of stocks belong to the information technology services industry and their market caps are similar to ACN’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!