Accenture Makes Strategic Investment in Symmetry Systems

Accenture (ACN) revealed a strategic investment in cloud data security company Symmetry Systems through its subsidiary Accenture Ventures. The financial terms of the deal have been kept under wraps.

Accenture is a professional services company with capabilities in digital, cloud, and security systems. Shares of the company have jumped 42% over the past year.

Symmetry Systems provides data store and object-level security (DSOS) solutions, enabling clients with better visibility and unified access control of their most valuable data assets. Its flagship solution, DataGuard, provides security teams with auditing and compliance reports, security alerts for potentially malicious activity and breaches, and identity-and-access-management policies.

Integration with Symmetry Systems’ DataGuard will enhance Accenture’s capabilities and enable clients to keep their cloud environments secure. (See ACN stock chart on TipRanks).

As more and more organizations move their workloads and applications to the cloud, Accenture continues its investment spree. Accenture’s investment in Symmetry Systems follows other recent investments in cybersecurity and intelligence companies, such as Prevailion, Quantexa, Team 8, Endgame, and Claroty.

Tom Lounibos, MD at Accenture Ventures commented, “Accenture Ventures’ investment in Symmetry Systems is consistent with our Cloud First strategy and the singular focus to help our clients across industries make their cloud journey safe from the start.”

He added, “Symmetry Systems’ differentiated solutions offer greater flexibility of both on-premise and cloud configurations providing better visibility into an organization’s entire cloud estate. This approach is even more critical to keeping data safe with the proliferation of edge devices and in today’s work-from-anywhere world.”

BNP Paribas analyst Stefan Slowinski recently upgraded Accenture from Hold to Buy with a price target of $335 (17.3% upside potential).

Overall, the stock has a Strong Buy consensus rating based on 7 Buys and 2 Holds. The average analyst Accenture price target of $311.78 implies 8.2% upside potential from current levels.

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