Accenture PLC (NYSE: ACN) announced this week it had agreed to acquire Unlimited, the award-winning integrated customer engagement agency.
Unlimited is to become part of Accenture Song.
Unlimited, which has won more than 100 industry awards, includes TMW, Walnut, Health Unlimited and Nelson Bostock.
The company puts data and a deep understanding of human behavior at the core of its offering via its proprietary Human Understanding Lab & AI-powered digital insights platform LUCA.
The acquisition will complement Accenture Song’s existing capabilities in data and analytics.
”There are few agencies that have proven to be as impressive as Unlimited over the last few years. The world of CRM is more crucial to brands than ever before and there is no greater partner for it than generative AI-powered creativity. We’re excited to welcome the team into the Accenture Song fold and most importantly, we can’t wait for the opportunities that now exist for our clients and talent,” Dame Annette King, global lead, marketing practice at Accenture Song, said in a press release.
Stock Performance
The shares of Accenture PLC (ACN) closed 3.01% ($9.79) lower at $315.40 in New York on Friday, as they reversed a small gain from the previous market session.
The company’s total market cap now stands at $198.301 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 retreated 10.12% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 12 out of 19 surveyed investment analysts had rated Accenture’s stock as “Buy”, while 7 – as “Hold”. The median price target on the stock stands at $395.16, which translates into a 25.29% upside compared to the closing price on Friday.
The high point of the analyst forecast range stands at $445.00.
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