5 Best Information Technology Services Stocks to Buy

In this article, we will take a look at the 5 best information technology services stocks to buy. To see more such companies, go directly to 12 Best Information Technology Services Stocks to Buy.

5. Accenture Plc (NYSE:ACN)

Number of Hedge Fund Holders: 63

Accenture Plc (NYSE:ACN) is one of the biggest IT services companies in the world. Accenture Plc (NYSE:ACN) provides services and solutions across several IT domains, including data, infrastructure, automation, Cloud, security, supply chain and more.

Hedge fund sentiment for Accenture Plc (NYSE:ACN) jumped during the fourth quarter, according to Insider Monkey’s proprietary database of 943 hedge funds. 63 hedge funds reported owning stakes in Accenture Plc (NYSE:ACN) at the end of the period, up from 58 hedge funds in the previous quarter. The biggest stakeholder of Accenture Plc (NYSE:ACN) was Guardian Capital’s GuardCap Asset Management which has a $387 million stake in the company.

ClearBridge Sustainability Leaders Strategy made the following comment about Accenture plc (NYSE:ACN) in its Q4 2022 investor letter:

“Accenture plc (NYSE:ACN) is a leading global professional services company that helps clients build their digital infrastructure and optimize their operations. We view Accenture as a resilient, high-quality business with consistent earnings and cash flow, a strong balance sheet and very attractive returns on capital. Secular drivers like cloud migration and digital transformation, as well as new, innovative technology deployments like data security, block chain, AI and machine learning position Accenture well for continued growth. It is also currently rolling out a suite of sustainability tools that offers a comprehensive view of a company’s goals, progress and performance across financial and ESG measures, so it is an enabler of ESG for its clients. We exited our position in software-as-a-service company Workday to fund the position, largely on better relative risk/reward, in our view.”