Accenture is a global professional services company that specializes in providing a wide range of services and solutions in strategy, consulting, digital transformation, technology, and operations
Leveraging advanced technologies and industry expertise, Accenture helps organizations improve their performance, innovate, and navigate the complexities of the rapidly changing business landscape. The company collaborates with clients across various sectors to implement effective strategies, optimize processes, and harness the power of digital tools, ensuring they stay competitive and achieve sustainable growth.
Shares of technology and consulting giant IBM (NYSE:IBM) fell 6% in the morning session as consulting stocks fell after Defense Secretary Pete Hegseth announced that the government would cancel some consulting contracts.
Shares of government consulting firm Booz Allen Hamilton (NYSE:BAH) fell 8.3% in the afternoon session as stocks of consulting firms fell after Defense Secretary Pete Hegseth announced that the government would cancel some consulting contracts.
Shares of research and advisory firm Gartner (NYSE:IT) fell 8% in the afternoon session after Defense Secretary Pete Hegseth announced that the government would cancel some consulting contracts, including those with Gartner. Also, another consulting firm, Accenture, reported its Q4 2024 (fiscal Q2 2025) financial results and raised concerns about weaker sales in the fed vertical. Accenture CEO Julie Spellman Sweet noted that the new administration is focused on improving government efficiency, leading to a slowdown in procurement processes and negatively impacting sales.
These updates showed that Gartner's growth could face pressure as the government continues its cost-cutting efforts.
Shares in IT government contractors Booz Allen, Gartner tumbled after Secretary of Defense Pete Hegseth said the Pentagon was canceling $580 million in contracts. But Palantir stock rose.
Let's have a look at what is happening on the US markets in the middle of the day on Thursday. Below you can find the top S&P500 gainers and losers in today's session.
In its most recent 10-K filing, the company disclosed that its contracts with U.S. federal government agencies accounted for approximately 17% of its North American revenues in fiscal 2024.
Accenture posted Q2 revenue of $16.66 billion with 5% growth, while narrowing its full-year outlook and forecasting 2025 EPS below analyst expectations.
Verizon launched GenAI Assistant for small businesses, automating customer interactions and boosting engagement. It also partners with Openbank and Accenture for advanced cybersecurity solutions.
