Accenture: Stick With This Winner

Summary:

* Accenture's stock is down big so far in 2020.

* However, the company recently reported solid Q2 2020 results that beat the top- and bottom-line estimates.

* I hold a position in Accenture, and I plan to add shares on any pullbacks. As such, I believe that investors should consider sticking with this winner.

Accenture's ($ACN) stock has been pulled down by the COVID-19 related concerns, and rightfully so, as the impact on economic activity has already been significant. But, ACN shares are only slightly underperforming the broader market over the first 2+ months of 2020.

However, let's also remember that Accenture has outperformed the broader market over the last 1-, 3- and 5-year time periods. Simply put, this company is a winner. So yes, there are company-specific risk factors that need to be considered, especially given the broader market uncertainty, but I believe that Accenture's management team has this global IT consulting and outsourcing company well-positioned for the future. As such, I believe that investors should stick with this winner.