Jefferies Has Hold On Accenture

Jefferies & Co. has a Hold rating on shares of Accenture (NYSE: ACN).

In a note to clients, Jefferies & Co. writes, "IBM's 2Q11 report suggests that Enterprise software spend did not downtick during the June quarter, which is pos for ORCL ($31.49, Buy, $38PT) and SAP ($57.21, Hold, $65PT). Mixed indicators regarding project-based demand and notable changes in verticals mix, support our cautious view on ACN ($59.98, Hold, $58PT), pos view on CTSH ($72.36, Buy, $86PT), and guarded view on CACI ($61.92, Underperform, $56PT) and SAI ($16.28, Hold, $18PT)."

Shares of ACN lost 72 cents yesterday to close at $59.98 yesterday.