Accenture (ACN) Strengthens Big Data Leadership With Rapid AI Expansion, UBS Boosts Price Target

Accenture plc (NYSE:ACN) ranks among the best big data stocks to invest in. UBS increased its price target for Accenture plc (NYSE:ACN) from $315 to $320 on December 19 while maintaining a Buy rating on the company’s shares, noting Accenture’s solid artificial intelligence position and steady demand. Accenture’s Advanced AI revenue reached $1.1 billion in the first quarter, up 120% year-over-year, while Advanced AI bookings were $2.2 billion, up 76% from the prior year.

UBS cited Accenture’s growth in data center professional services, a sector that is predicted to double by 2030, and said the company’s leading ten alliance agreements are driving growth that surpasses total company performance.

The firm also noted Accenture’s capital return program, which includes $3.3 billion disbursed through $2.3 billion in share buybacks and $1 billion in dividends, as customers continue to focus on transformational programs through what UBS termed as a solid demand environment.

Accenture plc (NYSE:ACN), based in Dublin, Ireland, is a multinational professional services firm specializing in IT consulting, digital transformation, and management solutions. The company took its foray into predictive analytics over a decade ago and is on track to become a premier data company.

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