Accenture Federal Services announced that it had secured the US Army’s Enterprise Application Modernization and Migration contract with a potential value of $127 million.
Accenture Federal Services, a subsidiary of Accenture PLC, will assess applications and provide migration and modernization recommendations to execute moving applications out of Army data centers and into the cloud.
”The U.S. Army’s cloud modernization journey is foundational to the Army’s overall modernization strategy and reflects its digital-first mindset,” Accenture Federal Services Managing Director and Army Client Account Lead Dana Oliver said in a press release.
”Accenture Federal Services will deliver proven federal cloud modernization capabilities and an approach that meets the Army’s mission requirements.”
”Accenture Federal Services will build upon our successful scaled federal cloud deliveries, including at the U.S. Air Force and the Centers for Disease Control and Prevention, to support a wide spectrum of defense missions in the cloud using our Cloud Migration and Modernization Factory,” Justin Shirk, Accenture Federal Services Managing Director for Federal Cloud & Secure Missions, commented.
”Our goal is to rapidly deliver on a modernization vision that will empower the Army to improve its agility, as well as its application and data availability, in critical mission systems that drive force resiliency.”
Stock Performance
The shares of Accenture PLC (ACN) closed 0.77% ($2.35) higher at $306.06 in New York on Monday, as they extended the gains from the previous two market sessions.
The company’s total market cap now stands at $192.429 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 12.78% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 11 out of 17 surveyed investment analysts had rated Accenture’s stock as “Buy”, while 6 – as “Hold”. The median price target on the stock stands at $392.24, which translates into a 28.16% upside compared to the closing price on Monday.
The high point of the analyst forecast range stands at $445.00.
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