Cognex (CGNX) Shows Strength: Stock Adds 5.4% in Session

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Accenture ACN yesterday announced that it has completed the acquisition of Gekko, a France-based Amazon Web Services (AWS) cloud services company. The deal was initially announced on Apr 20. Financial terms of the deal have been kept under wraps. Gekko has served more than 80 clients (including some of the leading companies in France) in designing and deployment of a connected and secure cloud infrastructure. It has more than 100 trained cloud professionals, 100 AWS certifications and a deep relationship with AWS. So far this year, shares of Accenture have gained 15.6% compared with 11.2% rise of the industry it belongs to and 9% growth of the Zacks S&P 500 composite. Buyout to Boost Accenture’s Cloud Capabilities The acquisition is expected to enhance Accenture’s position as one of the leading providers of AWS expertise and cloud transformation in France. Gekko’s expertise in AWS should help Accenture in providing end-to-end cloud services such as strategy ideation, migration and managed services to its European clients. The buyout boosts Accentures position in cloud and artificial intelligence and expands its ongoing relationships with key technology providers, including ecosystem partners such as Amazon, Google and Microsoft. The deal also enhances the cloud migration expertise and objectives of Accenture AWS Business Group (AABG) in France, Luxembourg, Belgium and the Netherlands. Considering the opportunities in the growing cloud industry, the deal seems to be a strategic move on Accenture’s part to strengthen its foothold in the industry. Zacks Rank and Stocks to Consider Accenture currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Zacks Business Services sector are DocuSign DOCU, SPS Commerce SPSC and SailPoint Technologies Holdings, Inc. SAIL. All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . The long-term expected earnings per share (three to five years) growth rate for DocuSign, SPS Commerce and SailPoint is 47%, 15% and 15%, respectively. Zacks Top 10 Stocks for 2020 In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020? Last years 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys. Access Zacks Top 10 Stocks for 2020 today >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Accenture PLC (ACN) : Free Stock Analysis Report SPS Commerce, Inc. (SPSC) : Free Stock Analysis Report SailPoint Technologies Holdings, Inc. (SAIL) : Free Stock Analysis Report DocuSign Inc. (DOCU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments
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