Accenture PLC (NYSE: ACN) said this week it had acquired The Lumery, a Melbourne-based marketing technology consultancy.
The financial details of the agreement were not disclosed.
The acquisition is expected to bolster the marketing transformation capabilities of Accenture Song, Accenture PLC’s tech-powered creative group. It is expected to add considerable depth to Accenture Song’s offerings in Australia, such as personalization, CRM and loyalty, testing, experimentation and automation.
“There is great interest in using tech to understand Australian customers more deeply and to streamline, enhance and transform marketing and sales efforts, especially with the rise of generative AI,” Mark Green, Australia and New Zealand lead at Accenture Song, said in a press release.
“The Lumery stands out for its distinct ability to help clients navigate the constantly changing and fragmented customer experience with its considered approach that integrates software, data and analytics. Accenture Song and The Lumery share a goal of helping organizations transform through connected marketing and technology investments to drive customer growth.”
Stock Performance
The shares of Accenture PLC (ACN) closed 0.71% ($2.72) higher at $383.71 in New York on Monday, as they extended the gain from the previous market session. It has been the highest closing price since January 5th 2022.
The company’s total market cap now stands at $240.583 billion.
The shares of Accenture PLC (ACN) went up 31.50% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 9.35% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 12 out of 18 surveyed investment analysts had rated Accenture’s stock as “Buy”, while 6 – as “Hold”. The median price target on the stock stands at $378.78, which translates into a 1.28% downside compared to the closing price on Monday.
The high point of the analyst forecast range stands at $440.00.
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