Dernières nouvelles pour Accenture (NYSE:ACN) Stock

Accenture

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.

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CapitaLand India Trust

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Alice Consolidated Mines Inc

AMSTERDAM COMMODITIES NV by Amsterdam Commodities N.V.

Acomo NV

AMER CMNTY NEWSPAPRS INC by American Community Newspapers, Inc.

American Community Newspapers Inc

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ACCELERA INNOVATIONS INC by Accelera Innovations, Inc.

Accelera Innovations Inc

Baird analyst David Koning maintains Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) with a Neutral and raises the price target from $350 to $370.

News

Price Target

Analyst Ratings

Baird Maintains Neutral on Accenture, Raises Price Target to $370

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the &#8220;Greed&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the S&amp;P 500 surging to a fresh record high level during the session.
Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares jumped around 15% on Thursday after the company reported better-than-expected fourth-quarter financial results. Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) reported better-than-expected earnings for its fourth quarter.
On the economic data front, U.S. core PCE prices increased by 2.8% from the prior quarter during the second quarter compared to a 3.7% gain in the previous period. U.S. initial jobless claims fell by 4,000 from the prior week to 218,000 during the period ending September 21, compared to estimates of 225,000. The U.S. economy expanded at an annualized rate of 3% during the second quarter versus a revised 1.6% increase in the first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with materials, information technology, and financials stocks recording the biggest gains on Thursday. However, energy and real estate stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 260 points to 42,175.11 on Thursday. The S&amp;P 500 rose 0.40% to 5,745.37, while the Nasdaq Composite gained 0.60% at 18,190.29 during Thursday's session.
Investors are awaiting earnings results from Moving iMage Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MITQ#NYSE">MITQ</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 71.8, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 67.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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U.S. stocks traded higher toward the end of trading, with the Dow Jones index rising more than 250 points on Thursday.
The Dow traded up 0.63% to 42,177.28 while the NASDAQ rose 0.54% to 18,179.88. The S&amp;P 500 also rose, gaining, 0.36% to 5,743.03.
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Leading and Lagging Sectors Materials shares jumped by 1.9% on Thursday.
In trading on Thursday, energy shares fell by 2%.
Top Headline
Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) reported better-than-expected earnings for its fourth quarter.
The company posted quarterly sales of $16.41 billion compared with the analyst consensus estimate of $16.39 billion, up 3% Y/Y in U.S. dollars and 5% in local currency. The adjusted EPS of $2.79 topped the analyst consensus estimate of $2.77.
Accenture declared a quarterly cash dividend of $1.48 per share, implying a growth of 15%. The board approved $4.0 billion in additional share repurchase authority, bringing Accenture's total outstanding authority to approximately $6.7 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) shares shot up 43% to $3.31 after the company announced a partnership with Beckman Coulter Life Sciences to revolutionize DNA and mRNA synthesis.</li>
<li>Shares of Pasithea Therapeutics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTTA#NASDAQ">KTTA</a>) got a boost, surging 62% to $6.24 after the company announced safety, tolerability, pharmacokinetic and preliminary efficacy data from the first 2 cohorts of patients in its Phase 1 clinical trial of PAS-004.</li>
<li>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) shares were also up, gaining 11% to $125.56 after the company reported better-than-expected fourth-quarter financial results and approved a $1 billion share buyback.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Concentrix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) shares dropped 16% to $53.29 following mixed third-quarter financial results.</li>
<li>Shares of Ryde Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYDE#NYSE">RYDE</a>) were down 32% to $0.7792 after the company announced a $4.5 million public offering at $0.85 per unit.</li>
<li>MDxHealth SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDXH#NASDAQ">MDXH</a>) was down, falling 21% to $2.00 after the company announced the pricing of a $40 million offering of 20 million shares at $2.00 per share</li>
</ul>
Commodities In commodity news, oil traded down 2.5% to $67.95 while gold traded up 0.2% at $2,690.70.
Silver traded up 0.9% to $32.315 on Thursday, while copper rose 3.1% to $4.6290.
Euro zone
European shares closed higher today. The eurozone's STOXX 600 gained 1.25%, Germany's DAX climbed 1.69% and France's CAC 40 jumped 2.33%. Spain's IBEX 35 Index rose 1.36%, while London's FTSE 100 rose 0.20%.
Bank lending to households in the Eurozone increased by 0.6% year-over-year to €6.891 trillion in August compared to a 0.5% rise in the prior month. The GfK Consumer Climate Indicator for Germany climbed to a reading of -21.2 heading into October versus a revised reading of -21.9 in the prior period.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 jumping 2.79%, Hong Kong's Hang Seng Index jumping 4.16%, China's Shanghai Composite Index gaining 3.61% and India's BSE Sensex gaining 0.78%.
Hong Kong&#8217;s trade deficit widened to $33.1 billion in August versus $25.6 billion in the year-ago month.
Economics
<ul>
<li>U.S. core PCE prices increased by 2.8% from the prior quarter during the second quarter compared to a 3.7% gain in the previous period.</li>
<li>U.S. durable goods orders came in mostly unchanged from the previous month in August versus the revised 9.8% jump in the earlier period.</li>
<li>U.S. initial jobless claims fell by 4,000 from the prior week to 218,000 during the period ending September 21, compared to estimates of 225,000.</li>
<li>The US economy expanded at an annualized rate of 3% during the second quarter versus a revised 1.6% increase in the first quarter.</li>
<li>Pending home sales in the U.S. rose by 0.6% from the prior month in August versus market estimates of a 0.3% increase.</li>
<li>U.S. natural-gas stocks rose 47 billion cubic feet in the week ended Sept. 20, compared to market estimates of a 52 bcf gain.</li>
</ul>
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Dow Surges Over 250 Points; Accenture Earnings Top Views

Piper Sandler analyst Arvind Ramnani upgrades Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) from Neutral to Overweight and raises the price target from $329 to $395.

Upgrades

Piper Sandler Upgrades Accenture to Overweight, Raises Price Target to $395

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/27/24</td>
<td>$125.00</td>
<td>$32.5K</td>
<td>10.3K</td>
<td>73.9K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$227.50</td>
<td>$25.2K</td>
<td>18.6K</td>
<td>51.4K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$20.00</td>
<td>$29.0K</td>
<td>25.7K</td>
<td>6.6K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$435.00</td>
<td>$29.2K</td>
<td>3.4K</td>
<td>4.6K</td>
</tr>
<tr>
<td>DOCN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$42.50</td>
<td>$35.0K</td>
<td>3.7K</td>
<td>1.6K</td>
</tr>
<tr>
<td>PGY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.00</td>
<td>$29.4K</td>
<td>1.0K</td>
<td>413</td>
</tr>
<tr>
<td>ACN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$350.00</td>
<td>$25.4K</td>
<td>666</td>
<td>399</td>
</tr>
<tr>
<td>JBL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$120.00</td>
<td>$30.6K</td>
<td>689</td>
<td>360</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$38.00</td>
<td>$33.0K</td>
<td>3.1K</td>
<td>290</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$220.00</td>
<td>$34.9K</td>
<td>1.3K</td>
<td>269</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a put option trade with neutral sentiment. It expires in 1 day(s) on September 27, 2024. Parties traded 100 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $32.5K, with a price of $325.0 per contract. There were 10322 open contracts at this strike prior to today, and today 73990 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on September 27, 2024. Parties traded 252 contract(s) at a $227.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.2K, with a price of $100.0 per contract. There were 18626 open contracts at this strike prior to today, and today 51421 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be bearish, expiring in 113 day(s) on January 17, 2025. This event was a transfer of 100 contract(s) at a $20.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $29.0K, with a price of $290.0 per contract. There were 25783 open contracts at this strike prior to today, and today 6686 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option sweep that happens to be bearish, expiring in 8 day(s) on October 4, 2024. This event was a transfer of 100 contract(s) at a $435.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $29.2K, with a price of $292.0 per contract. There were 3437 open contracts at this strike prior to today, and today 4628 contract(s) were bought and sold. 
• For DOCN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>), we notice a call option trade that happens to be bearish, expiring in 22 day(s) on October 18, 2024. This event was a transfer of 200 contract(s) at a $42.50 strike. The total cost received by the writing party (or parties) was $35.0K, with a price of $175.0 per contract. There were 3702 open contracts at this strike prior to today, and today 1649 contract(s) were bought and sold. 
• For PGY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGY#NASDAQ">PGY</a>), we notice a call option sweep that happens to be bullish, expiring in 113 day(s) on January 17, 2025. This event was a transfer of 190 contract(s) at a $10.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $29.4K, with a price of $155.0 per contract. There were 1001 open contracts at this strike prior to today, and today 413 contract(s) were bought and sold. 
• Regarding ACN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on September 27, 2024. Parties traded 62 contract(s) at a $350.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.4K, with a price of $410.0 per contract. There were 666 open contracts at this strike prior to today, and today 399 contract(s) were bought and sold. 
• For JBL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), we notice a call option trade that happens to be bearish, expiring in 22 day(s) on October 18, 2024. This event was a transfer of 42 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $30.6K, with a price of $730.0 per contract. There were 689 open contracts at this strike prior to today, and today 360 contract(s) were bought and sold. 
• For INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we notice a call option sweep that happens to be bullish, expiring in 813 day(s) on December 18, 2026. This event was a transfer of 112 contract(s) at a $38.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $33.0K, with a price of $295.0 per contract. There were 3169 open contracts at this strike prior to today, and today 290 contract(s) were bought and sold. 
• For AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we notice a call option sweep that happens to be neutral, expiring in 113 day(s) on January 17, 2025. This event was a transfer of 92 contract(s) at a $220.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $34.9K, with a price of $380.0 per contract. There were 1326 open contracts at this strike prior to today, and today 269 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AAPL

AVGO

DOCN

INTC

MARA

MSFT

NVDA

10 Information Technology Stocks With Whale Alerts In Today's Session

WIIM

Accenture shares are trading higher after the company reported better-than-expected Q4 financial results.

Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41042480/accenture-reports-fourth-quarter-and-full-year-fiscal-2024-results" rel="noreferrer noopener">fourth-quarter fiscal 2024</a> sales of $16.41 billion compared with the analyst consensus estimate of $16.39 billion, up 3% Y/Y in U.S. dollars&nbsp;and 5% in local currency.&nbsp;
Revenues were above the midpoint of the company&#8217;s guided range of $16.05 billion–$16.65 billion.&nbsp;
The adjusted EPS of $2.79 topped the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.77</a>.
Revenues for the quarter reflect a negative foreign exchange impact of approximately 2%, consistent with the assumption provided in the company&#8217;s third-quarter earnings release.&nbsp;
New bookings for the quarter were $20.1 billion, with consulting bookings of $8.6 billion and managed services bookings of $11.6 billion.
Adjusted operating income for the quarter was $2.46 billion, or 15.0% of revenues, versus 14.9% in the fourth quarter last year.
Products revenues reached $4.95 billion, up 4% in U.S. dollars and 6% in local currency. Health &amp; Public Service revenues increased by 10% in U.S. dollars and 11% in local currency to $3.61 billion.
Financial Services revenue reached $2.87 billion, down by 5% in U.S. dollars and 2% in local currency. Resources revenue was $2.22 billion, flat in U.S. dollars and up by 3% in local currency.
Communications, Media &amp; Technology revenue was $2.75 billion, increasing 2% in U.S. dollars and 5% in local currency.
Accenture generated $3.39 billion in operating cash flow and $3.18 billion in free cash flow for the fourth quarter.
Dividend:&nbsp;Accenture declared a quarterly cash dividend of $1.48 per share, implying a growth of 15%.
Buyback: The board approved $4.0 billion in additional share repurchase authority, bringing Accenture&#8217;s total outstanding authority to approximately $6.7 billion.
Julie Sweet, chair and CEO, Accenture, said, &#8220;We delivered full-fiscal year new bookings of $81 billion, including a record 125 quarterly client bookings of more than $100 million, and now have 310 Diamond clients, our largest relationships. We continue to accelerate our leadership in Generative AI, which we believe is the most transformative technology of the next decade, delivering $3 billion in new bookings for the year.&#8221;&nbsp;
Outlook: Accenture expects first-quarter revenues of $16.85 billion–$17.45 billion (versus&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $16.94 billion</a>).
Accenture&nbsp;expects fiscal 2025 adjusted EPS of $12.55–$12.91 versus consensus of $12.85. For fiscal 2025, the company expects revenue of $66.84 billion–$68.79 billion versus the $68.72 billion consensus.
For fiscal 2025, the company reiterated operating cash flow of $9.4 billion—$10.1 billion and free cash flow of $8.8 billion—$9.5 billion.&nbsp;
Price Action: ACN stock is up 3.55% at $349.01 premarket at the last check on Thursday.
Photo via Shutterstock

Guidance

Dividends

Buybacks

Movers

Tech

Accenture Q4 Earnings: Revenue And Profit Beat, $20B In New Bookings, Dividend And Buyback Boost

Micron, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) <a href="https://www.benzinga.com/news/earnings/24/09/41034733/micron-q4-earnings-revenue-eps-beat-on-robust-ai-demand-company-sees-significantly-improved-profita">earnings</a> could revitalize the sagging market momentum, with the index futures trading notably higher early Thursday. The risk-on mood was evident across the global markets as China&#8217;s commitment to stimulate the domestic economy encouraged traders. The markets also have several Main Street catalysts to consider, including weekly jobless claims data and inflation measures from the second-quarter GDP report. A slew of Federal Reserve officials are due to make speeches, which could potentially offer clues toward the interest-rate trajectory.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+1.38%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.78%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.47%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.87%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.79% to $574.55 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 1.44% to $492.82, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks ended Tuesday&#8217;s session on a mixed note, as wary traders either stepped to the sidelines or took some profits off the table ahead of the flurry of data due over the next two days and Micron&#8217;s earnings that came out after the market closed. IT and utility stocks rose, while the remaining 11 sector classes pulled back. Energy and healthcare stocks were among the worst performers of the session.
The Nasdaq Composite ended marginally higher, advancing for a third straight session, while the S&amp;P 500 Index and the Dow Industrials retreated from their record highs.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.04%</td>
<td>18,082.21</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>0.19%</td>
<td>5,722.26</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.70%</td>
<td>41,914.75</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.17%</td>
<td>2,223.99</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The market could remain lackadaisical until the election, according to Fund Strat&#8217;s Tom Lee. The Fed rate cut is historically positive three to six months out but what stocks do in the next month is a bit of a coin flip, the strategist <a href="https://x.com/CNBCClosingBell/status/1839029917742219408">said</a> in an interview with CNBC. 
Some repositioning took place and the market is now looking ahead to the election, which is just 40 days away, he said. 
Lee noted that most wealth managers and family offices he spoke to hinted at unwillingness to commit capital until after election day. &#8220;I don't think it matters who wins; It&#8217;s just they want to get that event behind,&#8221; he added.
The strategist said in election years, the November and December rallies are pretty tremendous, and when the gains are over 10% in the first half of the year, the November-December rallies get bigger, he said. &#8220;I am bullish into year-end but I'm a little less confident about how markets behave into election day and not that I think we're going to have a huge drawdown,&#8221; he added. 
&#8220;I also don't think we can make new highs and then see the market blast off after election day. So I'd rather sort of say things look a lot better after election day,&#8221; Lee said.
A Morgan Stanley strategist looked ahead to what&#8217;s in store after the first rate cut in the current monetary policy cycle. Chief Investment Officer, Morgan Stanley Wealth Management, Lisa Shalett said corporate fundamentals will now need to come into sharper focus, though expectations are already ambitious.
Given this backdrop, she advised investors to consider reducing ultra-short and money market positions in favor of locking in longer-dated rates. The equal-weighted S&amp;P 500 Index may provide better risk-adjusted exposure than its market-cap-weighted counterpart, she said. The strategist also flagged financial services, industrials, energy, healthcare and materials, as well as parts of technology such as software as compelling opportunities. Defensive ideas in residential REITs and utilities, and non-U.S. assets also could work in the current environment, she said.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release the customary jobless claims data at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to rise to 223,000 in the week ended Sept. 21, up from 219,000 in the previous week.</li>
<li>The Commerce Department is due to release its durable goods orders report for August at 8:30 a.m. EDT. The consensus estimate calls for a 3% month-over-month drop in durable goods orders compared to a 9.8% jump in the previous month.</li>
<li>The Bureau of Economic Analysis will release the final second-quarter GDP report at 8:30 a.m. EDT. The second-quarter growth is expected to be left unrevised at 3%. </li>
<li>The National Association of Realtors is due to release its pending home sales index for August at 10 a.m. EDT. The consensus estimate is for a 1% month-over-month increase for August, reversing some of the 5.5% drop in the previous month.</li>
</ul>
Fed speeches scheduled for the day include:
<ul>
<li>Fed Governor Adriana Kugler and Boston Fed President Susan Collins at 9:10 a.m. EDT</li>
<li>Fed Governor Michelle Bowman at 9:15 a.m. EDT</li>
<li>Fed Chair Jerome Powell at 9:20 a.m. EDT (at the 2024 U.S. Treasury Market Conference)</li>
<li>New York Fed&nbsp;President John Williams&nbsp;at 9:25 a.m. EDT</li>
<li>&nbsp;Fed Vice Chair for Supervision Michael Barr&nbsp;at 10:30 a.m. EDT</li>
<li>Fed Governor Lisa Cook&nbsp;at 10:30 a.m. EDT</li>
<li>Minneapolis Fed President Neel Kashkari and Barr at 1 p.m. EDT</li>
</ul>
Stocks In Focus:
<ul>
<li>Micron jumped over 15% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results announcement.</li>
<li>Also moving on earnings are H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) (down about 9%), Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) (down over 5%) and Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) (up about 4%.</li>
<li>Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) and Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) are among the companies due to <a href="https://www.benzinga.com/calendars/earnings">announce their financial results before the market opens</a>.</li>
<li>Those reporting after the close include BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>), Vail Resorts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) and Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell sharply and have dropped below the $69-a-barrel level, and gold futures pushed higher and are in record territory. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has gained moderately and is approaching the $64K level. The 10-year Treasury note edged down slightly to 3.772%.
The global markets were in a sea of green, with Hong Kong, China and Japan closing notably higher, as sentiment received a boost from China&#8217;s stimulus announcements. To add to the buoyancy, Bloomberg reported that China is considering injecting up to 1 trillion yuan($142.39 billion) of capital into its biggest state banks to facilitate lending. The European markets also advanced strongly in early trading.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/41040634/analyst-counters-pete-buttigiegs-assertion-that-inflation-went-down-after-bidens-ira-2022-they-are-s">Analyst Counters Pete Buttigieg&#8217;s Assertion That Inflation Went Down After Biden&#8217;s IRA 2022: &#8216;They Are Still Rising And You Don&#8217;t Seem To Care..At All&#8217;</a></li>
</ul>
Image Via Pixabay

Futures

Previews

Economics

Federal Reserve

$BTC

COST

US Stocks Set For Strong Start, Micron Jumps, China Commits More Stimulus: Strategist Flags 'Tremendous' Gains Near Term

Fiscal Year 2025
Accenture's business outlook for the full 2025 fiscal year assumes that the foreign-exchange impact on its results in U.S. dollars will be approximately positive 1.5% compared with fiscal 2024. For fiscal 2025, the company expects revenue growth to be in the range of 3% to 6% in local currency.
Accenture expects GAAP operating margin for fiscal 2025 to be in the range of 15.6% to 15.8%, an expansion of 80 to 100 basis points from fiscal 2024 GAAP operating margin, and an expansion of 10 to 30 basis points from fiscal 2024 adjusted operating margin, which excluded $438 million for business optimization costs.
The company expects its GAAP annual effective tax rate to be in the range of 22.5% to 24.5%.
The company expects GAAP diluted EPS to be in the range of $12.55 to $12.91, an increase of 10% to 13% over fiscal 2024 GAAP diluted EPS of $11.44, and an increase of 5% to 8% over fiscal 2024 adjusted EPS of $11.95, which excluded $0.51 for business optimization costs.
For fiscal 2025, the company expects operating cash flow to be in the range of $9.4 billion to $10.1 billion; property and equipment additions to be $600 million; and free cash flow to be in the range of $8.8 billion to $9.5 billion.
The company expects to return at least $8.3 billion in cash to shareholders through dividends and share repurchases.

Accenture Expects FY25 Revenue Growth Of 3%-6% YoY Vs $68.77B Est, FY25 Adj EPS Growth Of 5%-8% YoY Vs $12.79 Est

Business Outlook
First Quarter Fiscal 2025
Accenture expects revenues for the first quarter of fiscal 2025 to be in the range of $16.85 billion to $17.45 billion, or an increase of 2% to 6% in local currency, reflecting the company's assumption of an approximately positive 1.5% foreign-exchange impact compared with the first quarter of fiscal 2024.
&nbsp;

Accenture Expects Q1 Revenue Of $16.85B-$17.45B Vs $16.89B Est

Accenture plc has declared a quarterly cash dividend of $1.48 per share for shareholders of record at the close of business on October 10, 2024. This dividend, which is payable on November 15, 2024, represents a 15% increase over the company's previous quarterly dividend.
The company's Board of Directors has approved $4.0 billion in additional share repurchase authority, bringing Accenture's total outstanding authority to approximately $6.7 billion.
 &nbsp;

Accenture Board Approved Share Buyback Authorization By Additional $4B, Boosts Quarterly Dividend By 15% To $1.48/Share

Earnings Beats

Accenture Q4 2024 Adj. EPS $2.79 Beats $2.77 Estimate, Sales $16.406B Beat $16.386B Estimate

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled mostly lower on Wednesday, with the Dow Jones index falling around 300 points during the session.
Shares of Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) dipped more than 39% on Wednesday after the company reported worse-than-expected fourth-quarter EPS results.
On the economic data front, U.S. building permits increased by 4.6% to an annual rate of 1.470 million in August. Sales of new single-family houses in the U.S. fell by 4.7% from the prior month to an annualized rate of 716,000 in August of 2024, compared to a revised 10.3% gain in the prior month.
Most sectors on the S&amp;P 500 closed on a negative note, with energy, health care, and financials stocks recording the biggest losses on Wednesday. However, information technology and utilities stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 293 points to 41,914.75 on Wednesday. The S&amp;P 500 fell 0.19% to 5,722.26, while the Nasdaq Composite gained 0.04% at 18,082.21 during Wednesday's session.
Investors are awaiting earnings results from Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), and Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 67, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 66.5.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/41024505/top-5-industrials-stocks-that-may-collapse-in-q3">Top 5 Industrials Stocks That May Collapse In Q3</a></li>
</ul>

SFIX

Dow Tumbles Nearly 300 Points: Investor Optimism Improves Slightly, But Fear Index Remains In 'Greed' Zone

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) to report quarterly earnings at $2.77 per share on revenue of $16.39 billion before the opening bell. Accenture shares rose 1.5% to $342.00 in after-hours trading.</li>
<li>Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) <a href="https://www.benzinga.com/news/earnings/24/09/41034733/micron-q4-earnings-revenue-eps-beat-on-robust-ai-demand-company-sees-significantly-improved-profita">reported</a> better-than-expected fourth-quarter financial results. The company reported fourth-quarter revenue of $7.75 billion, beating the consensus estimate of $7.635 billion. The company reported fourth-quarter adjusted earnings of $1.18 per share, beating analyst estimates of $1.13 per share, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Micron shares jumped 14.8% to $109.90 in the after-hours trading session.</li>
<li>Analysts expect Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) to post quarterly earnings at $2.22 per share on revenue of $6.59 million before the opening bell. Jabil shares gained 0.1% to $113.58 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) reported worse-than-expected financial results for its third quarter and issued weak FY24 earnings guidance. H.B. Fuller shares dipped 9% to $73.39 in the after-hours trading session.</li>
<li>Analysts expect Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) to post quarterly earnings at $5.08 per share on revenue of $79.97 billion. The company will release earnings after the closing bell. Costco shares gained 0.1% to $908.90 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41024505/top-5-industrials-stocks-that-may-collapse-in-q3">Top 5 Industrials Stocks That May Collapse In Q3</a></li>
</ul>
Photo courtesy: Shutterstock

Micron Technology, Accenture And 3 Stocks To Watch Heading Into Thursday

Kevin Merritt, the research director at Wedbush Securities,<a href="https://www.benzinga.com/premarket-prep"> joined Benzinga's PreMarket Prep Wednesday </a>and highlighted the firm's top bank picks, opportunities in beaten-down names and more. Merritt also spoke about the adoption of AI, and which companies will benefit from the technology in the medium to long term. Merritt pointed out that despite the rally in large-cap techs largely driven by AI, it's a "mixed bag" in regards to which companies are the winners and losers of machine learning. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Slow And Steady &#x7C; PreMarket Prep" width="500" height="281" src="https://www.youtube.com/embed/qvFe8gmisfo?start=1782&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
"I do think there's going to be a fairly heated debate about who else benefits or loses… IT services right now is quite a mixed bag," Merritt said. "The likes of Accenture has had some tough quarters over the last year… quite a bit of debate about cannibalization vs opportunity." Merritt highlighted Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) as a company that has already capitalized on AI growth, while others, like Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), are expected to take longer to realize revenue gains from AI adoption. But, Merritt said that as more corporations adopt AI, IT and tech consulting companies like Accenture should benefit in the long term. Read Also: <a href="https://www.benzinga.com/general/entertainment/24/09/41024168/bill-gates-uses-chatgpt-daily-microsoft-founder-shares-what-he-loves-most-about-ai-chatbot">Bill Gates Uses ChatGPT Daily: Microsoft Founder Shares What He Loves Most About AI Chatbot</a> Outside of tech and AI, Merritt pointed to the regional banking sector as one to watch. He said that Wedbush has recently become more bullish on the sector as economic conditions stabilize as the Fed cuts interest rates. "We have been quite cautious on the regional and mid-cap bank group for the past couple of years and we just recently in the past couple of months turned to a more balanced, neutral sector view,&#8221; Merritt said. &#8220;And the thought being that to the extent the economy is able to hang in there, credit metrics don't exhibit too much deterioration, and you see rates move in a more favorable direction, it's appropriate to have a more balanced stance." Merritt highlighted Western Alliance Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) as a name that Wedbush analysts recently selected for the firm's "Best Ideas" list. Merritt also mentioned Comerica Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) as a regional bank that Wedbush upgraded. Keep Reading: <a href="https://www.benzinga.com/markets/equities/24/08/40581306/can-regional-banks-outperform-large-institutions-as-fed-rate-cuts-loom-small-banks-are-plenty-ch">Can Regional Banks Outperform Large Institutions As Fed Rate Cuts Loom? &#8216;Small Banks Are Plenty Cheap,&#8217; But… </a> Merritt and the PreMarket Prep hosts also talked about some beaten-down retail investor favorites like Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) and Celsius Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>). Merritt said that he believes newly-appointed Starbucks CEO Brian Niccol will have a &#8220;heavy lift&#8221; to turn the story around, but that there could be "strategic value" in Celsius's stock. 
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<li><a href="https://www.benzinga.com/news/24/09/41032461/meta-unveils-new-ai-features-quest-3s-llama-3-2-holographic-orion-glasses-at-connect-2024-we-are-get">Meta Unveils New AI Features, Quest 3S, Llama 3.2, Holographic Orion Glasses At Connect 2024: &#8216;We Are Getting Closer To Achieving The Dream Of Reality Labs&#8217;</a></li>
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Image created using artificial intelligence via Midjourney.

Exclusives

Interview

General

CELH

PLTR

SBUX

AI's Uneven Growth, Regional Bank Picks, And Beaten-Down Retail Stocks In Focus As Wedbush Analyst Shares Insights

Financial giants have made a conspicuous bullish move on Accenture. Our analysis of options history for Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) revealed 10 unusual trades.
Delving into the details, we found 70% of traders were bullish, while 20% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $309,950, and 6 were calls, valued at $417,530.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $310.0 to $360.0 for Accenture over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Accenture stands at 229.29, with a total volume reaching 2,350.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Accenture, situated within the strike price corridor from $310.0 to $360.0, throughout the last 30 days.
<h3>Accenture 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727285448_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ACN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$8.0</td>
<td>$7.5</td>
<td>$7.7</td>
<td>$335.00</td>
<td>$192.5K</td>
<td style="text-align: right;">137</td>
<td style="text-align: right;">28</td>
</tr>
<tr>
<td>ACN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$7.5</td>
<td>$7.5</td>
<td>$7.5</td>
<td>$345.00</td>
<td>$112.5K</td>
<td style="text-align: right;">792</td>
<td style="text-align: right;">603</td>
</tr>
<tr>
<td>ACN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$8.2</td>
<td>$7.4</td>
<td>$7.55</td>
<td>$345.00</td>
<td>$75.7K</td>
<td style="text-align: right;">792</td>
<td style="text-align: right;">153</td>
</tr>
<tr>
<td>ACN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$7.5</td>
<td>$7.3</td>
<td>$7.5</td>
<td>$345.00</td>
<td>$75.0K</td>
<td style="text-align: right;">792</td>
<td style="text-align: right;">453</td>
</tr>
<tr>
<td>ACN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$7.5</td>
<td>$7.4</td>
<td>$7.5</td>
<td>$345.00</td>
<td>$75.0K</td>
<td style="text-align: right;">792</td>
<td style="text-align: right;">353</td>
</tr>
</tbody>
</table>

<h3>About Accenture</h3>
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.
In light of the recent options history for Accenture, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Accenture</h3>
<ul>
<li>Trading volume stands at 1,375,199, with ACN's price down by -0.83%, positioned at $336.81.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 1 days.</li>
</ul>
<h3>What The Experts Say On Accenture</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $369.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Mizuho has decided to maintain their Outperform rating on Accenture, which currently sits at a price target of $365. 
&#x2A; Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Accenture, targeting a price of $370. 
&#x2A; Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Accenture with a target price of $376. 
&#x2A; An analyst from Citigroup persists with their Buy rating on Accenture, maintaining a target price of $405. 
&#x2A; An analyst from Piper Sandler persists with their Neutral rating on Accenture, maintaining a target price of $329. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Accenture options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Accenture Options Trading: A Deep Dive into Market Sentiment

The U.S. Department of Justice (DOJ) is investigating German software giant SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) and U.S. reseller Carahsoft Technology.
What Happened: The DOJ is investigating two companies over allegations of conspiring to overcharge U.S. government agencies. The civil probe, which has been ongoing since at least 2022, focuses on potential price-fixing schemes involving $2 billion worth of SAP technology sold to U.S. military and government agencies since 2014.
The DOJ is also examining other software resellers, including a unit of Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), for possible involvement in this market manipulation. The investigation came to light after federal agents raided Carahsoft's Virginia offices, seizing documents and computers. Prosecutors have since filed suit against Carahsoft, to enforce demands for internal communications related to these SAP sales.
Why It Matters: Carahsoft is an important firm in federal technology procurement. Since 2020, the firm has secured more than $3.5 billion in contracts. 
SAP technology accounts for a large share of this business, with Carahsoft facilitating over 600 contracts worth nearly $1 billion. If bid-rigging inflated prices on these deals, the government agencies could have been significantly overcharged over the last decade.
Also Read:&nbsp; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41025381/exclusive-novo-nordisk-faces-political-heat-over-weight-loss-drug-prices-ahead-of-e">EXCLUSIVE: Novo Nordisk Faces Political Heat Over Weight-Loss Drug Prices Ahead Of Elections, Yet &#8216;The Real Issue Is With The Middlemen&#8217;</a>
Repeated Offenders: Both firms have previously faced legal issues. Carahsoft and VMware paid $75.5 million in 2015 to settle claims of overcharging the government. Recently, SAP settled a $222 million bribery case involving seven countries, including South Africa and Indonesia, further intensifying scrutiny on the company's practices.
Bloomberg<a href="https://www.bloomberg.com/news/articles/2024-09-25/us-probing-tech-firms-sap-carahsoft-for-potential-price-fixing"> reported</a> SAP confirmed it is cooperating fully with the DOJ and stressed that no criminal charges have been filed.
Following the news, SAP and Carahsoft have not cancelled a two-day Executive Summit in San Francisco starting today. The event aims to explore future IT trends and innovations and will feature participants such as Data Scientific CEO Cassie Kozyrkov, bestselling author Sol Rashidi and former OpenAI's Head of Go-To-Market Zack Kass.
Carahsoft has not immediately responded to Benzinga's request for comment.
Price Action: Following the news, SAP stock fell 2.91% to $224.21 on Wednesday. It remains one of the best-performing European large-cap stocks, with a year-to-date gain of around 47%.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp"> </a> • <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp">Mortgage Demand Soars As Fed Interest Rate Cut Fuels Housing Market Revival: &#8216;Next Spring Could See A Real Rebound&#8217;</a>

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Department Of Justice Investigates SAP, Carahsoft In $2B Price-Fixing Probe

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Accenture Federal Services Receives $90M Prime Contract To Provide Data Analytics And Vulnerability Research And Analysis Support To The CISA

Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) will release earnings results for its fourth quarter, before the <a href="https://www.benzinga.com/quote/ACN/earnings">opening bell on Thursday, Sept. 26</a>.
Analysts expect the Dublin, Ireland-based company to report quarterly earnings at $2.78 per share, up from $2.71 per share in the year-ago period. Accenture projects to report revenue of $16.38 billion for the quarter, compared to $15.99 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 16, Accenture Federal Services won a $190M million U.S. Department of State Data and Systems Engineering contract.
Accenture shares gained 0.1% to close at $339.62 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58f777c10bd99100018a435e/tien-tsin-huang">JP Morgan analyst Tien-Tsin Huang</a> maintained an Overweight rating and cut the price target from $376 to $370 on Sept. 24. This analyst has an accuracy rate of 61%.</li>
<li>Mizuho analyst Dan Doelev maintained an Outperform rating and boosted the price target from $352 to $365 on Sept. 18. This analyst has an accuracy rate of 63%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/591ed97e290fa70001e6c69f/ashwin-shirvaikar">Citigroup analyst Ashwin Shirvaikar</a> maintained a Buy rating and raised the price target from $350 to $405 on Sept. 17. This analyst has an accuracy rate of 72%.</li>
<li>TD Cowen analyst Bryan Bergin maintained a Hold rating and raised the price target from $293 to $321 on Sept. 12. This analyst has an accuracy rate of 62%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5845b510ee7bf6000154d079/james-faucette">Morgan Stanley analyst James Faucette</a> downgraded the stock from Overweight to Equal-Weight rating and slashed the price target from $382 to $300 on June 26. This analyst has an accuracy rate of 65%.</li>
</ul>
Considering buying ACN stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="509" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25021809/image-192-1024x509.png" alt="" class="wp-image-564748" style="width:606px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25021809/image-192-1024x509.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25021809/image-192-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25021809/image-192-768x382.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25021809/image-192.png 1341w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/news/24/09/41003853/wall-streets-most-accurate-analysts-views-on-3-tech-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech Stocks Delivering High-Dividend Yields</a></li>
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Accenture Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Accenture rises after Q4 beat amid AI wave, upbeat Q1 outlook

Bank of America Securities analyst Jason Kupferberg has maintained their bullish stance on ACN stock, giving a Buy rating on September 24. Jason Ku...

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Piper Sandler upgrades Accenture after Q4 beat, robust Q1 outlook

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Wall Street Lunch: Chip Chip Hooray

Stifel Nicolaus analyst David Grossman has maintained their bullish stance on ACN stock, giving a Buy rating today. David Grossman has given his Bu...

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RBC Capital analyst Daniel Perlin maintained a Buy rating on Accenture (ACN – Research Report) yesterday and set a price target of $389.00. The com...

New Buy Rating for Accenture (ACN), the Technology Giant

Guggenheim analyst Jonathan Lee CFA has reiterated their bullish stance on ACN stock, giving a Buy rating today. Jonathan Lee CFA has given his Buy...

Accenture's Buy Rating: A Blend of Strong Revenue Growth, Innovation, and Financial Health

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Accenture Helps Organizations Personalize Experiences on Salesforce using Data and AI

F&G and Accenture Collaborate to Optimize Technology Platform Capabilities for Retail Annuity Growth

Accenture Federal Services Wins $190M U.S. Department of State Data and Systems Engineering Contract

Indosat Ooredoo Hutchison Group and Accenture Accelerate Sovereign AI Cloud to Power Indonesia's Digital Future

Accenture Invests in Martian to Bring Dynamic Routing of Large Language Queries and More Effective AI Systems to Clients

CloudBees Brings Thousands of Developers to Annual DevOps World as It Surpasses $150 Million in Revenue and Achieves Profitability

Accenture Federal Services Wins $90 Million Cybersecurity and Infrastructure Security Agency (CISA) Award

The Law Offices of Frank R. Cruz Announces Investigation of Accenture plc (ACN) on Behalf of Investors

Accenture Reports Fourth-Quarter and Full-Year Fiscal 2024 Results

Mondelēz International Joins Forces with Accenture and Publicis Groupe to Advance AI-Powered Marketing Capabilities

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