Accenture (NYSE:ACN) has completed the strategic acquisition of UK-based technology consultancy firm 6point6, in a move aimed at strengthening its position in central government, defense, and financial services sectors. The acquired firm is renowned for its expertise in cloud, data, and cybersecurity capabilities. This acquisition is expected to enhance Accenture’s strategic capabilities in these areas.

Richard Hunt, Carly Gulliver, Tom Hopwood, Nazaneen Ahmadi, and Charlotte Martin from Addleshaw Goddard oversaw the sale of 6point6 to Accenture. Hunt praised 6point6’s growth following an investment by ICG in 2021 and its reputation in both the public and private sectors.

In addition to the acquisition, Accenture also plans to lay off 83 employees in Detroit between December 2023 and May 2024. This decision is part of the company’s efforts to streamline operations and concentrate on profitable areas.

Accenture’s stock is rated as a “Buy”, with a “Moderate Buy” consensus rating and a price target of $333.24. The stock opened at $308.12, within a 52-week range of $242.80 to $330.43, suggesting potential for growth. These factors together position Accenture as an appealing investment opportunity.

The company has a substantial market cap of $194.74 billion and a P/E ratio of 28.24, indicating solid investor confidence. Over the last twelve months as of Q4 2023, Accenture has generated a revenue of $64,111.75 million with a growth rate of 4.09%. This is a testament to its robust market performance.

The company has consistently increased its earnings per share and has raised its dividend for 4 consecutive years. This is a promising sign for investors as it indicates a potential for a steady stream of income. Moreover, Accenture operates with a high return on assets, further emphasizing its efficiency in using its resources.

Accenture’s strategic acquisition of 6point6, coupled with its strong financial performance, makes it a compelling investment choice.