Shares are on track for their best day since June
Information technology services firm Accenture Plc (NYSE:ACN) reported better-than-expected fiscal first-quarter revenue and hiked its full-year outlook. The shares are up 7.3% to trade at $373.24 at last glance, on track for their best single-day percentage win since June and trading at their highest level since October. ACN is staging a bounce off familiar support at the $350 level, and added 21% in the last six months.
Options traders are already chiming in, with 6,585 calls and 2,923 puts traded so far today, which is 7 times the volume typically seen at this point. The most active contract is the December 380 call.
It's also worth noting that ACN has consistently outperformed volatility expectations over the last 12 months, as reflected in its Schaeffer’s Volatility Scorecard (SVS) score of 83 out of 100.
Though analysts are already mostly bullish, there's still room for bull notes, with nine still calling ACN a tepid "hold," while its 12-month consensus target price of $385.51 is a slim 3.5% premium to current levels.