Shares of Accenture plc (ACN - Free Report) have gained 30% year to date, outperforming the 25.6% rally of the industry it belongs to.
The company has entered into an agreement to buy BCT Solutions, a Canberra-based privately held cybersecurity and technology company. Financial terms were not disclosed.
Founded in 2015, BCT specializes in command and control, cyber security, cyber defence services and expertise. The company supports the delivery of defence, national security and public safety mission-support capabilities. With around 50 staff, it has offices in Canberra and Brisbane.
How Will Accenture Benefit?
The acquisition is expected to strengthen Accenture’s Defence, National Security and Public Safety capabilities in Australia, benefiting its Health & Public Service segment. Revenues from this segment increased 4% year over year on a reported basis and 6% in terms of local currency, in the last reported quarter.
Accenture PLC Revenue (TTM)
Catherine Garner, who leads Accenture’s Health & Public Service practice in Australia and New Zealand, said, “BCT’s impressive experience and capabilities will enable us to enhance the services we provide to government agencies in Australia — ultimately helping improve the lives of citizens.”
Zacks Rank & Stocks to Consider
Currently, Accenture carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader Zacks Business Services sector are Navigant Consulting , NV5 Global (NVEE - Free Report) and FLEETCOR Technologies (FLT - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term expected EPS (three to five years) growth rate for Navigant Consulting, FLEETCOR and NV5 Global is 13.5%, 15.4% and 20%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>