Accenture Earnings Shock: Why My Pessimism Didn't Pay Off (Rating Upgrade)
ACNAccenture(ACN) Seeking Alpha·2024-06-20 22:26

LuckyBusiness/iStock via Getty Images Investment Thesis Accenture plc (NYSE:ACN) delivered exceptionally strong Q3 2024 results, with new bookings increasing by 22% y/y, marking the highest growth in new bookings over the past two fiscal years. Before these results, I had given up on this stock, believing its prospects were already fully priced in. However, I was clearly mistaken. Although the stock isn't cheap, trading at approximately 23x next year's EPS, its solid balance sheet, commitment to returning c ...