Can Accenture Embrace The Power Of Change?
Accenture will report before the market opens on Thursday. Wall Street expects earnings of $2.05 per share on revenue of $11.36 billion, compared to the year-ago quarter when earnings were $2.09 per share on revenue of $11.36 billion. Compared to other tech/software stocks, Accenture shares haven t participated in the robust market rally since the March bottom, but the stock has held pretty well despite a muted enterprise IT spending environment. Rising 17.5% in six months and up 17% year to date, the IT consulting company has outperformed the S&P 500 index in both spans. The question is, with the stock already up some 20% off its October low, presumably in part due to its buyback strategy, can Accenture be relied upon to pull out a meaningful recovery next year?