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Accenture Extends Tech Relationship With Anglo American

Zacks Equity Research
·2 mins read

Accenture plc ACN has extended its technology-services agreement with the global mining company Anglo American. The move confirms that Accenture will continue as a strategic IT-services provider to Anglo American till 2023.

Notably, the company’s shares have gained 20% over the past year, outperforming the 16.1% rally of the Zacks S&P 500 composite.

The Win-Win Situation Continues

Accenture has been a technology-services provider to Anglo American since 2011. An extension of their association should benefit Accenture’s Resources segment that caters to mining companies among others. The segment was weak in the last-reported quarter with revenues of $1.64 billion decreasing 6% year over year on a reported basis and 3% in terms of local currency.

For Anglo American, the move will help it innovate and speed up the process of development of information-management capabilities with new technologies and delivery processes.

Accenture’s Notable Mining Moves

In November 2019, Accenture opened an innovation hub in Perth, Western Australia, to help mining and energy companies in the region enhance their business performance through the application of digital technologies.

In February 2019, the company unveiled plans to launch an Applied Intelligence Studio for mining to integrate its AI and data-science capabilities with expertise from its mining industry group to develop digital solutions.

Zacks Rank and Key Picks

Currently, Accenture has a Zacks Rank #3 (Hold).

Some other top-ranked stocks in the broader Zacks Business Services sector are Republic Services RSG, IQVIA Holdings IQV and NV5 Global NVEE, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term expected earnings per share (three to five years) growth rate for Republic Services, IQVIA Holdings and NV5 Global is 6.6%, 9.9% and 13.7%, respectively.

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