Accenture (ACN - Free Report) yesterday announced that it has completed the acquisition of Parker Fitzgerald — a U.K.-based strategic advisor and consulting partner to leading global financial institutions. The financial terms have been kept under wraps.
Founded in 2008, Parker Fitzgerald is engaged in guiding financial services companies on financial and non-financial risk, regulation and financial technology. It offers strategic advice, independent assurance and market-leading solutions to mitigate risks, reduce operational complexity and enhance overall risk-adjusted performance.
So far this year, we observe that shares of Accenture have gained 38.4% compared with 29.6% rise of the industry it belongs and 13.8% increase of the Zacks S&P 500 composite.
A Strategic Move to Ramp Up Financial Services
The acquisition marks the combination of Parker Fitzgerald’s risk advisory, assurance expertise and regulatory experience with Accenture’s consulting, technology and digital capabilities. This should enhance Accenture’s services related to the rapidly evolving risk environment and cater to U.K. financial institutions.
Peter Beardshaw, who leads Accenture’s Financial & Risk practice in the United Kingdom, stated, “Parker Fitzgerald’s skills, approach to financial risk management and long-standing regulatory relationships are at the heart of the risk management agenda and will enable us to provide clients with an even greater level of risk and assurance services and solutions.”
Zacks Rank & Stocks to Consider
Accenture currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Visa (V - Free Report) , Huron Consulting (HURN - Free Report) and Fiserv (FISV - Free Report) , each carrying a Zacks Rank #2. Long-term expected EPS (three to five years) growth rate for Visa, Huron Consulting and Fiserv is 16.5%, 13.5% and 12%, respectively.
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