HomeMost PopularInvestingAccenture (ACN) Subsidiary Completes Acquisition of Cognosante

Accenture (ACN) Subsidiary Completes Acquisition of Cognosante

Actionable Trade Ideas

always free

Accenture plc ACN shares have gained 5% in the past year compared with the 12% rally of theย industryย it belongs to.

The companyโ€™s subsidiary Accenture Federal Services announced yesterday that it has completed the acquisition of Virginia-based digital transformation and cloud modernization solutions provider Cognosante. The financial terms of the deal have been kept under wraps.

Founded in 2008, Cognosante employs a team of 1,500 professionals and specializes in providing technology solutions to federal government clients. These include healthcare programs that support veterans, active-duty military personnel, patients, beneficiaries, providers, and payors. Cognosante is known for its expertise in technology, cloud modernization and migration, and program management.

Accenture PLC Price Accenture PLC Price

Accenture PLC price | Accenture PLC Quote

A New Federal Health Portfolio in Focus

Through this acquisition, Accenture Federal Services is establishing a new federal health portfolio. This portfolio aims to deliver specialized mission solutions to enhance health outcomes and create more accessible and equitable healthcare experiences for all.

Commenting on the acquisition, Accenture Federal Services CEO John Goodman said, โ€œWith the addition of Cognosanteโ€™s industry-leading people and capabilities, and by continuing to draw upon Accentureโ€™s proven commercial innovation in health, life sciences, and insurance, Accenture Federal Services will accelerate impact for our clients and offer greater career growth opportunities for our people as a result of this acquisition.โ€

The acquisition represents a significant step forward in Accentureโ€™s strategy to enhance its public service offerings, particularly in the rapidly evolving healthcare sector. By combining forces, Accenture and Cognosante are well-positioned to lead the charge in transforming public healthcare services through cutting-edge technology and innovative solutions.

Zacks Rank and Stocks to Consider

Accenture currently carries a Zacks Rank #4 (Sell).

A couple of better-ranked stocks in the broader Zacksย Business Servicesย sector are Aptiv APTV and Booz Allen Hamilton BAH.

Aptiv currently carries a Zacks Rank #2 (Buy). APTV has a long-term earnings growth expectation of 16.4%. You can see the complete list of todayโ€™s Zacks #1 Rank (Strong Buy) stocks here.

The company has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in each of the last four quarters. The average beat is 12.2%.

Booz Allen Hamilton carries a Zacks Rank #2 at present. BAH has a long-term earnings growth expectation of 12.6%.

The company delivered an earnings surprise of 12.6%, on average, surpassing the Zacks Consensus Estimate in three of the trailing four quarters and missing once.

Buy 5 Stocks BEFORE Election Day

Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).

Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.

They include a medical manufacturer that gained +11,000% in the last 15 yearsโ€ฆ a rental company absolutely crushing its sectorโ€ฆ an energy powerhouse planning to grow its already large dividend by 25%โ€ฆ an aerospace and defense standout that just landed a potentially $80 billion contractโ€ฆ and a giant chipmaker building huge plants in the U.S.ย 

Donโ€™t Wait. Download FREE >>

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

Booz Allen Hamilton Holding Corporation (BAH) : Free Stock Analysis Report

Aptiv PLC (APTV) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.