IT consulting firms lead software shares higher after Accenture results
IGV•IGV•IGV•IGV•U.S. software shares rose premarket after Accenture forecast fiscal-year revenue growth above estimates. Accenture gained 17.8%, while the iShares Expanded Tech-Software Sector ETF rose 1.3%.
Accenture shares jumped 17.8% to $216.50 premarket after the IT consulting firm forecast fiscal-year revenue growth above estimates. Cognizant rose 7.3% and IBM gained 5.8%.
U.S.-listed shares of Wipro and Infosys climbed 10.3% and 7.3%, respectively. EPAM Systems gained 7%, Salesforce rose 3.6%, ServiceNow advanced 3.8% and Atlassian added 3.7%. Microsoft rose 1.2%, Intuit gained 3.3%, Workday advanced 2.4% and Adobe rose 2.3%.
The iShares Expanded Tech-Software Sector ETF climbed 1.3%. The S&P 500 Software and Services index was up 1% year to date as of the previous close, after falling as much as 26.8% earlier in the year.
