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Accenture (ACN) Acquires Navisite to Boost Cloud Innovation
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Accenture plc (ACN - Free Report) shares have gained 21.7% in the past year, outperforming 20.2% growth of the Zacks S&P 500 composite.
The company yesterday announced its agreement to acquire cloud service provider Navisite, aimed at improving Accenture’s strategic footing. Financial terms of the acquisition were not disclosed.
Navisite is a leading provider of managed cloud services, offering a comprehensive suite of IT solutions, including cloud migration, managed hosting and application management. With a focus on optimizing performance, security and scalability, Navisite empowers businesses to navigate the complexities of the digital landscape, while ensuring reliable and efficient IT operations.
The acquisition enhances Accenture’s digital transformation and managed services capabilities, focusing on modernizing IT for the AI era. Navisite's 1,500-member team, now part of Accenture's Infrastructure Engineering practice, contributes expertise in cloud engineering, holding 2,000+ certifications across multiple cloud providers and technologies. This bolsters the company’s ability to aid North American clients in rapidly transforming their enterprises.
The move aligns with clients' urgent needs for modernization, leveraging Navisite's proficiency in cloud, infrastructure, and application services. The collaboration aims to accelerate clients' adoption of new technologies, fostering business reinvention and operational efficiency.
Accenture emphasizes the importance of being ready for the AI era, and Navisite's inclusion facilitates a faster transition, allowing clients to modernize and operate efficiently. The acquisition reinforces Accenture's innovation-focused managed services, enabling clients to keep pace with the evolving digital landscape. The strategic move reflects a commitment to helping clients run to the new, combining Accenture's strengths with Navisite's capabilities to navigate the challenges of enterprise IT in the AI era.
ACN currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Here are some stocks from the Business Services sector that warrant consideration by investors.
Clean Harbors (CLH - Free Report) currently has a current Zacks Rank #2 (Buy) and a VGM Score of A. The Zacks Consensus Estimate of the company’s revenues for 2023 is pegged at $5.42 billion, suggesting a rise of 5% from the year-ago reported figure. The consensus mark for earnings is pegged at $6.81 per share, which indicates a decline of 4.8%.
CLH beat the Zacks Consensus Estimate in three of the past four quarters (missed on one), with an average of 3.2%.
Broadridge Financial Solutions (BR - Free Report) has a Zacks Rank of 2 at present. The Zacks Consensus Estimate of the company’s revenues for 2023 is pegged at $6.53 billion, implying a 7.7% rise from the year-ago reported figure. The consensus mark for earnings is pegged at $7.72 per share, which indicates an increase of 10.1%.
BR beat the Zacks Consensus Estimate in three of the past four quarters (matched on one), with an average of 3.2%.
ABM Industries (ABM - Free Report) currently has a Zacks Rank of 2 and a VGM Score of 2. The Zacks Consensus Estimate of the company’s revenues for 2023 is pegged at $8.14 billion, indicating a slight increase from the year-ago reported figure. The consensus mark for earnings is pegged at $3.32 per share, which suggests a decline of 5.1%.
ABM beat the Zacks Consensus Estimate in three of the past four quarters (missed on one), with an average of 1.4%.
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Accenture (ACN) Acquires Navisite to Boost Cloud Innovation
Accenture plc (ACN - Free Report) shares have gained 21.7% in the past year, outperforming 20.2% growth of the Zacks S&P 500 composite.
The company yesterday announced its agreement to acquire cloud service provider Navisite, aimed at improving Accenture’s strategic footing. Financial terms of the acquisition were not disclosed.
Navisite is a leading provider of managed cloud services, offering a comprehensive suite of IT solutions, including cloud migration, managed hosting and application management. With a focus on optimizing performance, security and scalability, Navisite empowers businesses to navigate the complexities of the digital landscape, while ensuring reliable and efficient IT operations.
Accenture PLC Price
Accenture PLC price | Accenture PLC Quote
Advantages of Navisite Acquisition
The acquisition enhances Accenture’s digital transformation and managed services capabilities, focusing on modernizing IT for the AI era. Navisite's 1,500-member team, now part of Accenture's Infrastructure Engineering practice, contributes expertise in cloud engineering, holding 2,000+ certifications across multiple cloud providers and technologies. This bolsters the company’s ability to aid North American clients in rapidly transforming their enterprises.
The move aligns with clients' urgent needs for modernization, leveraging Navisite's proficiency in cloud, infrastructure, and application services. The collaboration aims to accelerate clients' adoption of new technologies, fostering business reinvention and operational efficiency.
Accenture emphasizes the importance of being ready for the AI era, and Navisite's inclusion facilitates a faster transition, allowing clients to modernize and operate efficiently. The acquisition reinforces Accenture's innovation-focused managed services, enabling clients to keep pace with the evolving digital landscape. The strategic move reflects a commitment to helping clients run to the new, combining Accenture's strengths with Navisite's capabilities to navigate the challenges of enterprise IT in the AI era.
ACN currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Here are some stocks from the Business Services sector that warrant consideration by investors.
Clean Harbors (CLH - Free Report) currently has a current Zacks Rank #2 (Buy) and a VGM Score of A. The Zacks Consensus Estimate of the company’s revenues for 2023 is pegged at $5.42 billion, suggesting a rise of 5% from the year-ago reported figure. The consensus mark for earnings is pegged at $6.81 per share, which indicates a decline of 4.8%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CLH beat the Zacks Consensus Estimate in three of the past four quarters (missed on one), with an average of 3.2%.
Broadridge Financial Solutions (BR - Free Report) has a Zacks Rank of 2 at present. The Zacks Consensus Estimate of the company’s revenues for 2023 is pegged at $6.53 billion, implying a 7.7% rise from the year-ago reported figure. The consensus mark for earnings is pegged at $7.72 per share, which indicates an increase of 10.1%.
BR beat the Zacks Consensus Estimate in three of the past four quarters (matched on one), with an average of 3.2%.
ABM Industries (ABM - Free Report) currently has a Zacks Rank of 2 and a VGM Score of 2. The Zacks Consensus Estimate of the company’s revenues for 2023 is pegged at $8.14 billion, indicating a slight increase from the year-ago reported figure. The consensus mark for earnings is pegged at $3.32 per share, which suggests a decline of 5.1%.
ABM beat the Zacks Consensus Estimate in three of the past four quarters (missed on one), with an average of 1.4%.