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Accenture (ACN) Adds Open Cosmos to Its Investment Portfolio
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Accenture plc (ACN - Free Report) shares have gained 29.7% in the past six months, outperforming the 26.3% rally of the industry it belongs to and the 16.6% growth of the Zacks S&P 500 composite.
The company yesterday announced its investment and collaboration with the space technology company, Open Cosmos. Financial terms have been kept under wraps.
Founded in 2015, Open Cosmos is engaged in designing, manufacturing and integrating satellites. The company operates space missions and its data services platform provides satellite data and insights on a global scale.
Open Cosmos is now a participant in Accenture Ventures’ Project Spotlight, an engagement and investment program aimed at providing emerging technology software startups access to Accenture’s technological and domain expertise across its G2000 client base.
Through the investment, Accenture aims at increasing access to satellite data and tapping clients who need to track and analyze data found in space and use them in addressing business challenges such as the sustainability issue.
The collaboration seems to be a part of Accenture’s broader goal of continuously investing in technology to bolster innovation and strengthen its ecosystem of relationships with various technology partners. This, in turn, will help the company stay future-ready and expand its clientele.
"Accenture sees a future where every company is able to tap into the vast potential of data captured in space in order to push past the boundaries of the possible and find new sources of innovation," said Tom Lounibos, managing director, Accenture Ventures.
Zacks Rank & Stocks to Consider
Accenture currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Business Service sector that investors may consider:
DocuSign (DOCU - Free Report) currently carries a Zacks Rank #2 (Buy). It beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 27.1%. The Zacks Consensus Estimate for fiscal 2024 revenues and earnings indicates growth of 8.1% and 24.1%, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank #2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies growth of 6.3% and 11.1%, respectively.
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Accenture (ACN) Adds Open Cosmos to Its Investment Portfolio
Accenture plc (ACN - Free Report) shares have gained 29.7% in the past six months, outperforming the 26.3% rally of the industry it belongs to and the 16.6% growth of the Zacks S&P 500 composite.
The company yesterday announced its investment and collaboration with the space technology company, Open Cosmos. Financial terms have been kept under wraps.
Founded in 2015, Open Cosmos is engaged in designing, manufacturing and integrating satellites. The company operates space missions and its data services platform provides satellite data and insights on a global scale.
Accenture PLC Price
Accenture PLC price | Accenture PLC Quote
Open Cosmos Joins Project Spotlight
Open Cosmos is now a participant in Accenture Ventures’ Project Spotlight, an engagement and investment program aimed at providing emerging technology software startups access to Accenture’s technological and domain expertise across its G2000 client base.
Through the investment, Accenture aims at increasing access to satellite data and tapping clients who need to track and analyze data found in space and use them in addressing business challenges such as the sustainability issue.
The collaboration seems to be a part of Accenture’s broader goal of continuously investing in technology to bolster innovation and strengthen its ecosystem of relationships with various technology partners. This, in turn, will help the company stay future-ready and expand its clientele.
"Accenture sees a future where every company is able to tap into the vast potential of data captured in space in order to push past the boundaries of the possible and find new sources of innovation," said Tom Lounibos, managing director, Accenture Ventures.
Zacks Rank & Stocks to Consider
Accenture currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Business Service sector that investors may consider:
DocuSign (DOCU - Free Report) currently carries a Zacks Rank #2 (Buy). It beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 27.1%. The Zacks Consensus Estimate for fiscal 2024 revenues and earnings indicates growth of 8.1% and 24.1%, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank #2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies growth of 6.3% and 11.1%, respectively.