On September 8, Accenture PLC fell 3.63% in regular trading, trading at $178.01/share with turnover of $77.43 million. The decline came amid broad-based selling across the IT consulting sector, despite the company announcing a strategic partnership with Google Cloud to launch the Accenture Gemini Enterprise Business Group.
The new business group aims to help enterprise clients deploy Google Cloud's agentic AI platform, with Google Cloud set to train up to 1,000 field engineers for Accenture. However, the positive development failed to offset sector headwinds, as major IT consulting firms continue to face structural pressure from AI-driven disruption. Industry analysis highlights that clients such as Bayer and Bristol-Myers Squibb are leveraging AI to reduce reliance on external consultants, while SAP claims AI can help cut consulting costs by 50%.
Within the IT Consulting & Other Services sector, stocks declined broadly: Infosys down 5.6%, Cognizant down 4.7%, Gartner down 4.59%, IBM down 1.59%, while Quantinuum rose 1.84%.
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