Lastly, Accenture (ACN, Financial) increased the Fund’s return by 14 basis points, as the stock moved higher from $294.79 to $319.92, for a total return of 8.8%. Accenture is a global professional-services company that specializes in information technology services and consulting. The company reported strong growth in bookings in both consulting and outsourcing, an indication that its enterprise clients continue to turn to Accenture for help mapping out digital transformations in the face of increased market uncertainty. The company’s board also repurchased more shares and increased the quarterly dividend, giving the stock price a boost.
From the Parnassus Endeavor Fund (Trades, Portfolio)'s third-quarter 2021 letter.
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