Global professional services company Accenture plc (ACN) recently revealed that it has acquired asset performance management and capital projects consultancy T.A. Cook. The financial terms of the deal have been kept under wraps.
Following the news, shares of the company declined marginally to close at $368.45 in the extended trading session on Monday.
Implications of the Deal
With expertise in data-driven maintenance, operations and asset life cycle management, T.A. Cook’s addition to Accenture’s portfolio will enable it to serve its customers by lowering operating costs and increasing plant utilization.
Further, with this deal, Accenture is likely to ensure enhanced safety, improved asset performance and reduced environmental impact.
Management Commentary
The Global Lead for Accenture Industry X, Nigel Stacey, said, “With T.A. Cook, we continue to grow our intelligent asset management capabilities that help clients automate processes, build predictive maintenance capabilities, reduce waste, increase utilization and, ultimately, redefine how they operate plants and factories for sustainable growth.”
See Insiders’ Hot Stocks on TipRanks >>
Price Target
Recently, Robert W. Baird analyst David Koning reiterated a Hold rating on the stock with a price target of $354, which implies downside potential of 3.9% from current levels.
Consensus among analysts is a Strong Buy based on 11 Buys and 3 Holds. The average Accenture price target of $380.50 implies upside potential of 3.3% from current levels.
Smart Score
Accenture scores a 9 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained 50.4% over the past year.
Related News:
AECOM Posts Mixed Q4 Results
Coupang Q3 Earnings Miss Estimates
Prelude Therapeutics Drops 3.3% on Quarterly Loss
