Dark pool activity was detected in ACN stock on January 6, 2020.
We can not determine if these dark pool orders were buy or sell orders but with the positive news catalyst today about the company winning a position on a DISA contract, it seems like this could be large players buying stock over the dark pool.
Accenture (NYSE: ACN) has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract with Defense Information Systems Agency (DISA) to provide systems engineering and technology solutions that transform the way soldiers interact with Department of Defense information technology (IT) and to implement next-generation technology advancements.
DISA’s Systems Engineering, Technology, and Innovation (SETI) award is a five-year base IDIQ contract, with a five-year option period, with a ceiling of $7.5 billion. The SETI contract is designed to address current and future mission requirements and increase IT capabilities through disruptive innovation. The goal of the contract is to help DISA streamline critical engineering functions for the research, design, development, integration and optimization of defense IT capabilities, systems and solutions.
Under the terms of the agreement, Accenture Federal Services (AFS) and its teaming partners will compete for task orders to provide cloud, application and cyber solutions with an overarching emphasis on innovation.
“We’re honored to be selected as an innovation partner to DISA as it advances its future mission requirements,” said Vince Vlasho, AFS Defense portfolio lead. “AFS’s experience in bringing together technology innovation with Defense mission needs enables us to help DISA design and deliver solutions with advanced technologies quickly that improve their service and combatant command capabilities now and into the future.”
On December 26, 2019, Argus analyst Jim Kelleher raised his price target on Accenture to $235 and kept his Buy rating after its Q4 earnings beat. The analyst also notes that while the company’s outsourcing bookings slowed and book-to-bill fell below 1.0, its revenue growth accelerated to 9% in local currency, which is the fastest pace in over a year. Kelleher further states that Accenture continues to outpace its industry rivals while its CEO has reflected on its revenue growth rate demonstrating “significant” market share gains.
On December 23, 2019, Cowen analyst Bryan Bergin raised his price target on Accenture to $220 from $215 following solid Q1 results. The analyst said the quarter conveyed healthy demand and demonstrated strong execution. He views the confident tone and outperformance as suggestive of conservative 2020 targets. Bergin reiterated his Outperform rating on Accenture shares.
On December 20, 2019, Citi analyst Ashwin Shirvaikar raised his price target for Accenture to $230 from $211 saying the company yesterday reported good headline results, with both revenues and earnings beating expectations. Bookings growth, “which can be lumpy and seasonal,” was below revenue growth again, and earnings benefited from the investment portfolio mark-to-market trending up, Shirvaikar tells investors in a research note. However, he believes Accenture’s revenue growth “was good across the board.” The analyst expects the stock to “grind up steadily” through fiscal 2020 as estimates come up. He recommends investors buy shares of Accenture with a Buy rating.
On December 20, 2019, Accenture (NYSE: ACN) has completed its acquisition of Silveo, which was first announced on November 14. Silveo is a French consulting company providing services and solutions for digital manufacturing and intelligent supply chains based on software from, for example, SAP and Dassault Systèmes. Headquartered in Neuilly-sur-Seine, France, Silveo brings a team of 50 professionals, who are joining Accenture Industry X.0. Financial terms of the transaction were not disclosed.
In its 2019 fiscal year, Accenture invested nearly US$1.2 billion globally on 33 acquisitions to acquire critical skills and capabilities in strategic, high-growth areas of the market.
On December 19, 2019, Accenture (NYSE: ACN) reported financial results for the first quarter of fiscal 2020, ended Nov. 30, 2019, with revenues of $11.4 billion, an increase of 7 percent in U.S. dollars and 9 percent in local currency over the same period last year. Accenture reported Q1 EPS of $2.09 versus the consensus estimate of $1.99. The company reported Q1 revenue of $11.4B versus the consensus estimate of $11.14B.
New bookings for the quarter were $10.3 billion, with consulting bookings of $6.0 billion and outsourcing bookings of $4.3 billion.
Julie Sweet, Accenture’s chief executive officer, said, “We are very pleased with our strong first-quarter financial results and the continued momentum across our business. With 9 percent revenue growth in local currency, we again gained significant market share. We also delivered strong profitability and cash flow, and returned $1.2 billion in cash to shareholders while continuing to invest significantly in our business.
“Our strong, broad-based results across industries and geographic markets reflect the diversity and scale of Accenture’s business around the world. With our unparalleled technology capabilities, deep industry and function expertise, focus on continuous innovation, and incredibly talented people, we are uniquely positioned to continue driving value for our clients and all our stakeholders.”