Accenture plc ACN saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $105.30 to $109.08 in the past one-month time frame.
Shares fell after the company reported weaker-than-expected results for the first quarter of fiscal 2016. Notably, earnings per share of $1.28 missed the Zacks Consensus Estimate of $1.31.
The Dublin-based consulting company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (2 increases, 2 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
ACN currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the same industry is CBIZ, Inc. CBZ, which currently sports a Zacks Rank #1 (Strong Buy).
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