Deals Rain on Accenture - Analyst Blog
September 07 2011 - 9:30AM
Zacks
Accenture plc
(ACN) recently won a 4-year information technology (IT) application
servicing deal from the European Parliament, for a value of €12.0
million or roughly $16.5 million. Per the deal terms, Accenture
will offer its technology and services to develop, maintain and
support a variety of the Parliament’s operations.
Accenture’s services will cover
areas such as human resources, finance, logistics and
administrative management. These services are expected to enable
the European Parliament to better manage its IT eco system to drive
greater operational efficiencies.
In another recent development, the
outsourcing and consulting giant announced that it will develop a
cloud-based self-assessment Web portal for The Gender Equality
Project (TGEP), which is a Swiss not-for-profit foundation that
ensures gender equality in multinational companies. The Web program
will run on Salesforce.com Inc.’s (CRM) Heroku
platform. The joint effort will also keep TGEP’s venture well
within its budget.
We have seen Accenture winning
deals from various industrial sectors and geographical locations,
thanks to its rich industry experience. In the past few months, the
company has served Pepco Holding Inc. (POM), a
renowned utility company, CF Industries Holdings
(a leading manufacturer and distributor of fertilizers),
Anheuser-Busch InBev (BUD) and Banco
Bilbao Vizcaya Argentaria S.A. (BBVA). Apart from these,
Accenture has also gained a strong foothold in the insurance
vertical.
We find Accenture’s third quarter
results encouraging, as both top and bottom lines strongly beat the
Zacks Consensus Estimates. Based on an improving business momentum
and market share gains, Accenture raised its revenue and earnings
guidance for fiscal 2011. Moreover, we are encouraged by the steady
flow of new businesses and believe that the trend will
continue.
However, increasing competition
from International Business Machines Inc. (IBM)
and the company’s significant European exposure may temper its
growth prospects to some extent.
Currently, Accenture has a
short-term Hold recommendation, denoted by the Zacks #3 Rank.
ACCENTURE PLC (ACN): Free Stock Analysis Report
BANCO BILBAO VZ (BBVA): Free Stock Analysis Report
ANHEUSER-BU ADR (BUD): Free Stock Analysis Report
SALESFORCE.COM (CRM): Free Stock Analysis Report
INTL BUS MACH (IBM): Free Stock Analysis Report
PEPCO HLDGS (POM): Free Stock Analysis Report
Zacks Investment Research
BBVA Bilbao Vizcaya Arge... (NYSE:BBVA)
Historical Stock Chart
From Jun 2024 to Jul 2024
BBVA Bilbao Vizcaya Arge... (NYSE:BBVA)
Historical Stock Chart
From Jul 2023 to Jul 2024