Market Update (NYSE:ACN): Accenture looks to Israel to boost cybersecurity portfolio

[Reuters] – Seeking to shore up the cybersecurity services it provides to customers, Accenture Plc has acquired an Israeli company and is establishing a research and development centre in the country. Israeli cyber security firms, many of which have their roots in the military, have attracted growing foreign investment over the past few years, raising a record $540 million in 2015. Accenture, a professional services firm whose competitors include IBM and India’s Infosys, did not disclose financial details of its acquisition of Tel Aviv-based Maglan which provides cyber forensics and simulation servives, malware defence and research on intelligence threats. Read more on this. Accenture plc (ACN) , with a current value of $74.67B, opened at $119.10. Looking at the stock, its one day range is $118.89 to $120.33 and has traded between $88.43 and $120.33 over the past 12 months. ACN shares are currently priced at 22.10x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.21x earnings multiple. And for passive income investors, the company pays shareholders $2.20 per share annually in dividends, yielding 1.87%. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $1.41 per share, which would be $0.11 better than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $5.32 would be a $0.50 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $8.32 Billion. If realized, that would be a 7.08% increase over the year-ago quarter. Recently, Cantor Fitzgerald Initiated ACN at Buy (Oct 16, 2015). Previously, Argus upgraded ACN from Hold to Buy. The average price target for ACN shares is $120.26, which is 0.97% above where the stock opened this morning. See more in (NYSE:ACN) Similar Articles: Market Update: Accenture plc (NYSE:ACN) – Accenture Wins Covenant House Washington DC Dove Award Market Update: Accenture plc (NYSE:ACN) – Accenture Appoints Greg Kaplan as Lead Creative Director Market Update: Accenture plc (NYSE:ACN) – Accenture Launches “Accenture Customer Credit Solutions” to Provide Fast, Efficient and Flexible Credit Services to Sub-Saharan African Businesses