7-Nov-2024
Accenture’s Balanced Risk/Reward Profile and Modest Revenue Growth Lead to Hold Rating
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Accenture acquires consulting and technology firm Allitix
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Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration. The company provides its IT offerings to a variety of sectors, including communications, media and technology, financial services, health and public services, consumer products, and resources. Accenture employs just under 500,000 people throughout 200 cities in 51 countries.
Accenture PLC Class A Ordinary Shares (Ireland) trades on the NYSE stock market under the symbol ACN.
As of November 7, 2024, ACN stock price climbed to $360.71 with 2,098,374 million shares trading.
ACN has a beta of 0.68, meaning it tends to be less sensitive to market movements. ACN has a correlation of 0.11 to the broad based SPY ETF.
ACN has a market cap of $225.39 billion. This is considered a Mega Cap stock.
Last quarter Accenture PLC Class A Ordinary Shares (Ireland) reported $16 billion in Revenue and $2.79 earnings per share. This beat revenue expectation by $26 million and exceeded earnings estimates by $.01.
In the last 3 years, ACN traded as high as $417.37 and as low as $242.80.
The top ETF exchange traded funds that ACN belongs to (by Net Assets): VTI, VOO, SPY, IVV, XLK.
ACN has underperformed the market in the last year with a price return of +16.1% while the SPY ETF gained +37.9%. ACN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +13.9% and -1.0%, respectively, while the SPY returned +15.2% and +2.8%, respectively.
ACN support price is $351.70 and resistance is $360.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ACN shares will trade within this expected range on the day.