This technology and business-operations consulting company released strong quarterly results on Friday (they beat earnings and revenue estimates and increased the dividend again), yet the shares sold off. Despite all the positives about this business (high profits, above industry growth trajectory, strong dividend growth, impressive workforce, valuable client relationships and long-term opportunities) the market was focused on slowing macroeconomic estimates and the threat of recession. The market cycle is real, but this business will survive and continue to thrive. It will outpace the market over the next decade, and now is an attractive contrarian time to consider buying shares. We are currently long.
Click the ACN ticker hyperlink on this report for our history of updates on Accenture.