Accenture (NYSE:ACN) stock closed about 7.3% higher on Thursday, June 20. This jump reflects the strong growth in its new bookings in Q3. Further, this information technology (IT) and consulting services provider continues to acquire companies to diversify its portfolio and enter high-growth markets. Given these positives, it’s the right time to see who owns Accenture stock.
Now, according to TipRanks’ ownership page, public companies and individual investors own 41.12% of Accenture. They are followed by other institutional investors, mutual funds, and insiders at 35.70%, 22.64%, and 0.55%, respectively.
Digging Deeper into Accenture’s Ownership Structure
Looking closely at institutions (Mutual Funds and Other Institutional Investors), Vanguard owns an 8.52% stake in ACN stock. Next up is Vanguard Index Funds, which holds a 6.70% stake in the company.
Among the institutions, the Hedge Fund Confidence Signal is Very Positive on ACN stock based on the activity of 39 hedge funds. Hedge funds increased their ACN holdings by 627K shares in the last quarter.
Similarly, individual investors have a Very Positive view of the company. In the last 30 days, the number of portfolios (tracked by TipRanks) holding Accenture stock increased by 3.7%. Overall, among the 741,219 portfolios monitored by TipRanks, 0.5% have invested in Accenture stock.
Is Accenture a Good Stock to Buy Now?
Despite yesterday’s gain, Accenture stock is still down about 12% year-to-date. Analysts are cautiously optimistic about its prospects. ACN stock has eight Buys and seven Hold recommendations for a Moderate Buy consensus rating. The analysts’ average ACN stock price target is $341.87, implying 11.66% upside potential from current levels.
Conclusion
TipRanks’ Ownership tool provides ACN ownership structure by category, enabling investors to make well-informed investing decisions.
For a thorough assessment of Adobe stock, go to TipRanks’ Stock Analysis page.
