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Accenture Unveils Industry X.0 Innovation Center in Essen

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Accenture plc (ACN - Free Report) announced the opening of an innovation center in Essen, Germany. This is the latest addition to Accenture’s global network of more than 20 Innovation Centers for its Industry X.0 suite.

We observe that shares of Accenture have gained 26.6% year to date compared with 24.5% rise of the industry it belongs to and 13.4% rise of the Zacks S&P 500 composite.


Purpose & Details

Situated at Zollverein UNESCO world heritage site, the new center offers a combination of practical use cases, innovation and design-thinking tools and techniques, and digital technologies. It is aimed at helping resource companies in the chemicals, metals, mining, utilities, and energy industries address the shift toward digitalization.

According to Gotz Erhardt, a managing director at Accenture,” The Industry X.0 Innovation Center in Essen addresses the industry-specific challenges and needs of our clients and, through collaboration with our experts, can help them achieve incremental and breakthrough innovation.

Bottom Line

We believe that the move will help Accenture strengthen its foothold in Germany and Europe as a whole. Revenues from Europe increased 1% year over year on a reported basis and 7% in local currency in second-quarter fiscal 2019.

Zacks Rank & Other Stocks to Consider

Currently, Accenture is a Zacks Rank #2 (Buy) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A few other top-ranked stocks in the broader Zacks Business Services sector are Navigant Consulting , WEX (WEX - Free Report) and FLEETCOR Technologies (FLT - Free Report) . While Navigant Consulting sports a Zacks Rank #1, WEX and FLEETCOR carry a Zacks Rank #2.

Long-term expected EPS (three to five years) growth rate for Navigant Consulting, WEX and FLEETCOR is 13.5%, 15% and 16.5%, respectively.

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