Accenture: Activity Looks To Have Peaked


  • Accenture has benefitted from the post-pandemic demand for business transformation consulting, but we believe growth has peaked.
  • Decelerating bookings growth YoY and stabilizing employee headcount indicate a slowing outlook.
  • Consensus estimate valuations are not too demanding, but the risk-reward profile is unattractive, with the dividend yield not high enough to warrant investment.
Accenture Drops Tiger Woods From Advertising Campaigns, Signs Still Remain

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Investment thesis

We believe Accenture (NYSE:ACN) has peaked in terms of its bookings and headcount growth, pointing to a deceleration in its growth outlook. Although the share price has begun to take this into account, the valuations look too expensive given the

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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