5 Best Big Data Stocks To Buy Now

4. Accenture plc (NYSE:ACN)

Number of Hedge Fund Holders: 58

Accenture plc (NYSE:ACN) was founded in 1951 and is based in Dublin, Ireland. It is a professional services company that specializes in strategy and consulting, data management, robotic process automation, natural language processing, virtual agents, data and analytics strategy, data discovery and augmentation, data management, data democratization, artificial intelligence solutions, metaverse, and sustainability services. On December 16, Accenture plc (NYSE:ACN) declared a quarterly dividend of $1.12 per share, in line with previous. The dividend is distributable on February 15, to shareholders of record on January 10. Accenture plc (NYSE:ACN) is one of the best big data stocks to consider. 

On December 20, Cowen analyst Ashwin Shirvaikar raised the price target on Accenture plc (NYSE:ACN) to $300 from $295 and kept an Outperform rating on the shares. The analyst said short-term caution on growth and margin yields a second half ramp that may be hard to underwrite as 2023 enterprise IT budgets await finalization. 

According to Insider Monkey’s data, 58 hedge funds were bullish on Accenture plc (NYSE:ACN) at the end of Q3 2022, compared to 61 funds in the prior quarter. Nicolai Tangen’s Ako Capital is the biggest stakeholder of the company, with nearly 2 million shares worth $500 million. 

Here is what  Distillate Capital has to say about Accenture plc (NYSE:ACN) in its Q3 2022 investor letter:

“The largest new purchases include Accenture plc (NYSE:ACN). Accenture modestly lagged the market last quarter and became similarly attractive enough to warrant ownership. Similar to our prior presentations, one way to visualize the current portfolio and note recent changes versus the benchmark is to look at scatter plot of all of Distillate’s FSV holdings versus those in the benchmark with valuation on the vertical axis and free cash ϲow stability on the horizontal axis.”