Accenture (ACN) stock rose today after the professional services firm announced plans to acquire skills training company Award Solutions. So far, few terms of the deal have been announced, but ACN stock has enjoyed a day of slow, steady growth. This trend could easily continue, as acquiring Award Solutions will help Accenture offer even more services, particularly in areas such as cloud-based solutions, as well as wireless and network technologies, to its wide range of clients.
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What’s Happening with Accenture Stock?
While Accenture stock has lost some momentum since its early trading spike this morning, shares closed out trading today in the green and have kept rising in after-hours trading. Its 1% gains may not look like much, but this news has sparked some needed momentum, pushing ACN stock up 3% for the past five days. Trading has been fairly volatile over the past quarter but Accenture has managed to power through unfavorable market conditions and rise 10%.
Now, Accenture’s new acquisition will likely help this growth continue. Award Solutions may not be a well-known company outside of the skills training space, but its worker base is broad, spanning most of the United States and extending all the way to Bangalore, India. Its offerings help global telecom and technology providers leverage important new technologies such as 5G, artificial intelligence, automation, and data visualization.
This means that Accenture can now offer investors more exposure to the booming AI and machine learning market. With many companies employing consulting firms to help them utilize and stay on top of these powerful new technologies, firms like Accenture are in an excellent position to ride this market wave to new heights in 2025 as AI continues to transform entire industries.
Wall Street Is Mostly Bullish on Accenture Stock
Turning to Wall Street, analysts have a Moderate Buy consensus rating on ACN stock based on 12 Buys and eight Holds assigned in the past three months, as indicated by the graphic below. After a 10% rally in its share price over the past year, the average ACN price target of $378.06 per share implies 5% upside potential.
