Advertisement
UK markets closed

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • FTSE 250

    19,391.30
    -59.37 (-0.31%)
     

  • AIM

    745.67
    +0.38 (+0.05%)
     

  • GBP/EUR

    1.1607
    -0.0076 (-0.65%)
     

  • GBP/USD

    1.2370
    -0.0068 (-0.55%)
     

  • Bitcoin GBP

    51,923.24
    +1,558.64 (+3.09%)
     

  • CMC Crypto 200

    1,371.97
    +59.34 (+4.52%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • CAC 40

    8,022.41
    -0.85 (-0.01%)
     
Property:

11 beautiful homes with glorious garden rooms

Investing in a home with a garden room will enable you to enjoy your outside space whatever the weather

Accenture Targets French IT Facilitator Cirruseo Buyout

Zacks Equity Research

Accenture plc ACN announced on Apr 8 that it has entered into exclusive negotiations to acquire leading pure-play Google Cloud services provider Cirruseo.

The deal needs prior consultation with the relevant works’ councils and will be subject to customary closing conditions. Financial terms have been kept under wraps.

Founded in 2011, Cirruseo provides consulting and implementation services for Google Cloud Platform and G Suite solutions. It is a Google Cloud Premier Partner and a certified trainer for Google Cloud technologies. It employs around 100 highly skilled Google Cloud professionals.

Enhancing Cloud Capabilities

Should the deal materialize, Cirruseo will complement the existing capabilities of Accenture Google Cloud Business Group and enhance Accenture’s end-to-end Intelligent Software Engineering and Intelligent Cloud & Infrastructure Services. It will also boost the artificial intelligence and machine learning expertise of Accenture Applied Intelligence.

ADVERTISEMENT

We believe this will give Accenture a stronger placement in the lucrative cloud computing market. Per Gartner, worldwide public cloud revenues are likely to grow 17.5% in 2019 to $214.3 billion, from $182.4 billion in 2018. The research firm expects these revenues to witness a compound annual growth rate (CAGR) of 12.6% to $331.2 billion from 2018 to 2022.

Shares of Accenture have gained 26% year to date, outperforming the 24.6% rally of the industry it belongs to.

Geographic Expansion in Focus

The acquisition will help Accenture to strengthen its Google Cloud footprint, France in particular and Europe in general, thus aiding its geographic expansion in potential markets.

Accenture PLC Revenue (TTM)

Accenture PLC Revenue (TTM) | Accenture PLC Quote

According to Olivier Girard, Accenture’s Geographic Unit managing director for France and Benelux,“The addition of Cirruseo would be a significant step forward in our growth strategy in France, bringing a strong team of Google Cloud specialists to Accenture.”

Zacks Rank & Other Stocks to Consider

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

Some other top-ranked stocks in the broader Zacks Business Services sector are Insperity NSP, MAXIMUS MMS and Automatic Data Processing ADP. While Insperity sports a Zacks Rank #1, both MAXIMUS and Automatic Data Processing carry a Zacks Rank #2.

The long-term expected EPS (three to five years) growth rate for Insperity, MAXIMUS and Automatic Data Processing is 18%, 10% and 13%, respectively.

Zacks' Top 10 Stocks for 2019

In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?

Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.

See Latest Stocks Today >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Accenture PLC (ACN) : Free Stock Analysis Report
 
Insperity, Inc. (NSP) : Free Stock Analysis Report
 
Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report
 
Maximus, Inc. (MMS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research