Accenture Is Resourcefully Working Its Cash To Reposition Itself

Summary:

  • Accenture’s stock shows modest growth, facing challenges from reduced discretionary spending in consulting projects.
  • Recent acquisitions, especially in AI, position the company for mid-digit growth, reflected in Q1 FY24 upbeat bookings.
  • Ongoing business spending slowdown and potential dollar impact pose risks, but I expect a rebound with GenAI momentum.
Man Planting Flag On Piles Of Cash

DNY59

Accenture (NYSE:ACN) has seen modest growth in their stock’s performance, beating the broader market indices. Over the past year, the company’s market cap rose ~41%, higher than the S&P 500 at ~27% and beating some of its peers such as IBM (


Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ACN over 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.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.


Leave a Reply

Your email address will not be published. Required fields are marked *