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Accenture (ACN) to Gain From Core Compete Buyout: Here's How
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Accenture plc (ACN - Free Report) yesterday announced that it has completed the acquisition of Core Compete, a cloud analytics services firm. Financial terms of the deal have been kept under wraps.
Founded in 2012, Core Compete enables digital transformations with cloud-native solutions that deliver artificial intelligence (“AI”) and machine learning-infused business outcomes, with the primary focus on supply chain, retail and financial services. It has a diverse client base across the United States and the U.K.. The company is headquartered in Durham, NC and has additional offices in the U.K. and India.
Core Compete’s team of over 260 professionals will be joining Accenture’s Applied Intelligence practice.
Over the past year, shares of Accenture have gained 64.5% compared with 62% rise of the industry it belongs to and 51.1% growth of the Zacks S&P 500 composite.
How Will Accenture Benefit?
Considering the growing demand for AI and cloud-based technologies, the latest deal is expected to help Accenture strengthen its capabilities in analytics, data and AI space across new markets and industries, thereby widening its client base.
Notably, Sanjeev Vohra, global lead for Accenture Applied Intelligence, stated, "Core Compete’s approach to cloud analytics transformation helps us further accelerate time to value for our clients, giving them the right tools, strategy and talent to reap the full benefits of being data-driven."
Further, Core Compete complements Accenture’s prior initiatives in strengthening its analytics, data and AI business, globally, which includes acquisitions of Analytics8 in Australia, PragsisBidoop in Spain, Mudano in the U.K., Byte Prophecy in India, Sentelis in France, and Clarity Insights and End-to-End Analytics in the United States.
The long-term expected earnings per share (three to five years) growth rate for Omnicom, Charles River Associates and Gartner is 9.3%, 13% and 13.5%, respectively.
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Accenture (ACN) to Gain From Core Compete Buyout: Here's How
Accenture plc (ACN - Free Report) yesterday announced that it has completed the acquisition of Core Compete, a cloud analytics services firm. Financial terms of the deal have been kept under wraps.
Founded in 2012, Core Compete enables digital transformations with cloud-native solutions that deliver artificial intelligence (“AI”) and machine learning-infused business outcomes, with the primary focus on supply chain, retail and financial services. It has a diverse client base across the United States and the U.K.. The company is headquartered in Durham, NC and has additional offices in the U.K. and India.
Core Compete’s team of over 260 professionals will be joining Accenture’s Applied Intelligence practice.
Over the past year, shares of Accenture have gained 64.5% compared with 62% rise of the industry it belongs to and 51.1% growth of the Zacks S&P 500 composite.
How Will Accenture Benefit?
Considering the growing demand for AI and cloud-based technologies, the latest deal is expected to help Accenture strengthen its capabilities in analytics, data and AI space across new markets and industries, thereby widening its client base.
Notably, Sanjeev Vohra, global lead for Accenture Applied Intelligence, stated, "Core Compete’s approach to cloud analytics transformation helps us further accelerate time to value for our clients, giving them the right tools, strategy and talent to reap the full benefits of being data-driven."
Further, Core Compete complements Accenture’s prior initiatives in strengthening its analytics, data and AI business, globally, which includes acquisitions of Analytics8 in Australia, PragsisBidoop in Spain, Mudano in the U.K., Byte Prophecy in India, Sentelis in France, and Clarity Insights and End-to-End Analytics in the United States.
Zacks Rank and Stocks to Consider
Accenture currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Omnicom (OMC - Free Report) , Charles River Associates (CRAI - Free Report) and Gartner (IT - Free Report) , each carrying a Zacks Rank #2 (Buy).
The long-term expected earnings per share (three to five years) growth rate for Omnicom, Charles River Associates and Gartner is 9.3%, 13% and 13.5%, respectively.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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