Accenture PLC (NYSE:ACN) said Tuesday it agreed to acquire McCoy, a Dutch SAP consulting firm focused on midsize companies.
McCoy will join Accenture Edge, the company’s recently launched midmarket unit. The deal will expand Accenture’s ability to help businesses modernize systems and add artificial intelligence to core operations.
Deal Expands SAP Capabilities
Founded in 2012, McCoy employs more than 380 professionals across the Netherlands, Spain and the Philippines. The company designs, installs and manages SAP systems spanning enterprise resource planning, data, integration and managed services.
McCoy serves clients in manufacturing, technology, utilities, retail and the public sector. It is also an SAP Gold Partner.
The acquisition will strengthen Accenture Edge’s presence in Europe, the Middle East and Africa. It will also support Advance, Accenture’s joint initiative with SAP for midmarket businesses.
AI Meets Business Modernization
Accenture said the combination will help clients update SAP environments, simplify implementations and embed AI into business processes.
McCoy will also bring proprietary tools designed to standardize delivery and speed up SAP transformations.
The transaction remains subject to regulatory approvals and other customary closing conditions. The companies did not disclose financial terms.
Stock Performance And Technical Analysis
Accenture stock was nearly flat Tuesday at $186.56. The stock lagged the Technology sector’s 0.67% gain. Meanwhile, the Nasdaq rose 0.40%, and the S&P 500 added 0.13%.
The stock trades above its 20-day, 50-day and 100-day simple moving averages. The MACD also signals improving momentum. However, shares remain 9.1% below the 200-day SMA of $205.15.
Resistance stands near $198, while support sits around $170. The stock has fallen 27.28% over the past year.
Accenture Analyst Outlook
The stock carries a Buy rating with an average price forecast of $198.25. Recent analyst moves include:
- Wolfe Research: Outperform (Raises forecast to $215.00) (Aug. 25)
- Citigroup: Neutral (Raises forecast to $190.00) (Aug. 24)
- Wells Fargo: Overweight (Lowers forecast to $194.00) (July 20)
Top ETF Exposure
- State Street SPDR S&P Dividend ETF (NYSE:SDY): 2.72% Weight
- VictoryShares Free Cash Flow ETF (NASDAQ:VFLO): 3.40% Weight
- Distillate US Fundamental Stability & Value ETF (NYSE:DSTL): 2.20% Weight
Significance: Because ACN carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
ACN Stock Price Activity: Accenture shares were up 0.01% at $186.56 at the time of publication on Tuesday, according to Benzinga Pro data.
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