Global professional services company Accenture (ACN) announced that it has completed the acquisition of France-based cloud services provider Linkbynet. The financial terms of the deal have been kept under wraps.
Following the news release, shares of the company gained 1.1% to close at $312.62 in Friday’s trading session.
Post the acquisition, Linkbynet will become a part of Accenture Cloud First. With Linkbynet’s expertize, Accenture Cloud First is expected to further strengthen its foothold in the cloud space and enhance its offerings to its customers. (See Accenture stock chart on TipRanks)
Recently, Robert W. Baird analyst David Koning assigned a Hold rating to the stock with a price target of $298. The analyst’s price target implies downside potential of 4.7% from current levels.
Consensus among analysts is a Strong Buy based on 14 Buys and 4 Holds. The average Accenture price target of $323.06 implies upside potential of 3.3% from current levels.
Accenture scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares of the company have gained 44.9% over the past year.
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