Accenture Stock Slides Friday: What's Happening?

Shares of Accenture plc (NYSE: ACN ) are trading lower Friday afternoon as negative sell-side commentary weighs on the global IT consulting and services giant. Guggenheim earlier shifted its rating on the stock from Buy to Neutral . Accenture shares are sliding. What’s behind ACN decline? Analyst Note Highlights Disconnect Between Stock Rally and Demand In its research note, Guggenheim cited concerns that the stock’s recent rally has moved ahead of its underlying business performance. The firm noted that Accenture shares rebounding 52% from their June lows has not been supported by a corresponding improvement in customer demand, a conclusion drawn from their recent channel checks. The commentary highlighted additional red flags for the company’s near-term growth trajectory. Guggenheim pointed to job-posting data showing fewer opening...