Global professional services provider Accenture (ACN) has acquired strategic management consultancy Homburg & Partner. Acquisition terms were not disclosed by the company.
The addition of Homburg & Partner bolsters Accenture’s expertise in commercial strategy, and sales and price management strategies.
Homburg & Partner has clients across different industries including industrial goods, healthcare, and chemicals. It has successfully helped clients increase revenue, gain market share, drive higher profitability, and attain growth targets.
Accenture’s Global Lead for Customer, Sales & Service Edwin van der Ouderaa said, “The pandemic accelerated the shift for organizations to adopt new digital standards for customer experience and engagement.” (See Accenture stock analysis on TipRanks)
He continued, “The addition of Homburg & Partners expands our ability to shape growth and efficiency strategies across the enterprise and will increase our clients’ focus on growing their sales and profits, as they pivot to their next-generation customer engagement.”
Last month, Deutsche Bank analyst Bryan Keane reiterated a Buy rating on the stock and increased the price target to $310 (9.5% upside potential) from $278.
Demand for IT products and services was already high before the COVID-19 pandemic and Keane expects it to stay elevated as the world emerges from the pandemic.
Consensus among analysts is that Accenture is a Moderate Buy based on 8 Buys and 3 Holds. The average analyst price target of $301.73 implies 6.6% upside potential.
Shares have gained about 48.9% over the past year.
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