Accenture Wins $789M Navy Contract To Bolster Cybersecurity In Maritime Forces
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 10 2024
0mins
Source: Benzinga
- Accenture Secures $789 Million Contract with U.S. Navy: Accenture Plc has secured a decade-long contract to provide cybersecurity operations support to U.S. Navy maritime forces in the SHARKCAGE environment.
- Contract Details: The contract includes a base ordering period of five years and an option for an additional five years, focusing on advanced attack sensing and warning capabilities.
- Stock Performance: ACN stock has gained 14% in the past year, and investors can access it through ETFs like IShares U.S. Tech Independence Focused ETF and Vesper US Large Cap Short-Term Reversal Strategy ETF.
- Collaboration with Bank of New York Mellon: Accenture also signed a pact with The Bank Of New York Mellon Corporation to modernize financial services offerings, emphasizing data management and analytics product development.
- Technological Collaboration: The collaboration aims to leverage cutting-edge technologies to accelerate the rollout of innovative offerings in private markets and wealth management tech, combining Accenture's expertise with BNY Mellon's financial data services.
Analyst Views on BK
Wall Street analysts forecast BK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BK is 125.59 USD with a low forecast of 109.00 USD and a high forecast of 145.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
8 Buy
4 Hold
0 Sell
Moderate Buy
Current: 120.180
Low
109.00
Averages
125.59
High
145.00
Current: 120.180
Low
109.00
Averages
125.59
High
145.00
About BK
The Bank of New York Mellon Corporation is a global financial services company. The Company’s business segment includes Securities Services, Market and Wealth Services and Investment and Wealth Management. The Securities Services business segment consists of Asset Servicing and Issuer Services, which provide business solutions across the transaction life cycle to its global asset owner and asset manager clients. The Market and Wealth Services business segment consists of three lines of business, Pershing, Treasury Services and Clearance and Collateral Management, which provide business services and technology solutions. Its Investment and Wealth Management business segment delivers a diversified portfolio of investment strategies independently, and through its global distribution network, to institutional and retail clients globally. It provides investment management, custody, wealth and estate planning, private banking services, investment servicing and information management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
