{
}
Citigroup plans to reduce its reliance on external IT contractors from 50% to 20%, focusing on building in-house capabilities. This strategic shift raises concerns for Indian IT firms like TCS, Wipro, and LTIMindtree, which have significant business ties with Citi. Experts suggest that while this may impact larger IT service providers, it could ultimately benefit India's core banking operations and expertise in the long run.
Deutsche Bank has lowered its price target for Accenture plc to $290 from $365 while maintaining a Hold rating, following the company's report of $16.7 billion in revenue for 2025, which reflects a 5.4% year-over-year increase. Despite strong fundamentals, Accenture faces challenges in its Federal Services business due to government spending cuts and macroeconomic uncertainties. Analysts from TD Cowen and Stifel have also adjusted their price targets to $365 and $355, respectively, while noting the company's strategic focus on digital transformation and AI as key to navigating current market conditions.
Accenture has raised its annual revenue forecast, now expecting growth of 5% to 7%, up from a previous estimate of 4% to 7%. This revision is driven by strong demand for services in cloud migration, AI-driven digital transformation, and data security, alongside securing significant projects in various sectors.
Barclays continues to recommend Accenture as a buy, particularly in light of recent market weaknesses. This stance reflects confidence in Accenture's potential despite current challenges. Investors may find this an opportune moment to consider the stock.
Accenture has reported a significant decline in revenues due to Elon Musk's spending cuts within the US government, which have slowed new procurement actions. The consulting firm, which relies on government contracts for 8% of its $16.7 billion revenue, has seen its shares drop nearly 10%. Despite these challenges, Accenture's CEO remains optimistic about future opportunities to enhance government efficiency.
Accenture has increased its full-year revenue forecast, driven by a surge in demand for AI services. This adjustment reflects the growing importance of artificial intelligence in the company's business strategy and overall market performance.
BNP Paribas Exane has lowered its price target on Accenture to $335 from $410 while maintaining a neutral rating. Accenture specializes in management consulting, technology services, and outsourcing, with net sales primarily from consulting (51.2%) and outsourcing (48.8%). The company's revenue is diversified across sectors, with significant contributions from automotive (30.1%), health and public services (21.3%), and financial services (17.9%), and is geographically distributed with 47.4% from North America and 35.1% from Europe.
Morgan Stanley has lowered its price target on Accenture to $372 from $380 while maintaining an equal-weight rating. Accenture plc focuses on management consulting, technology services, and outsourcing, with net sales primarily from consulting (51.2%) and outsourcing (48.8%). Geographically, sales are distributed as follows: North America (47.4%), Europe (35.1%), and other regions (17.5%). Sector-wise, the breakdown includes automotive/distribution (30.1%), health and public services (21.3%), financial services (17.9%), communication/media/high technology (16.7%), and chemistry and energy (14%).
In 3Q 2024, telco network infrastructure vendor revenues reached $49.6B, with Huawei, Ericsson, and Nokia leading the market, accounting for 37.5% of total revenues. Despite a slight quarterly increase, the annualized market saw a 5.6% decline, primarily due to reduced capex forecasts. Tejas Networks and Broadcom reported significant year-over-year growth, driven by strategic developments in India and acquisitions.
BNP Paribas Fortis plans to outsource nearly 500 jobs from its Client Service Centre to Accenture, an Ireland-based IT consultancy, as part of a restructuring effort. A dedicated Belgian entity will be created within Accenture to accommodate these employees, with no immediate impact on customer service or workplace locations. CEO Michael Anseeuw emphasized the need for transformation in response to evolving customer expectations and complex regulations.
Accenture plc
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
citigroup shifts strategy to reduce reliance on external it contractors
United States Dollar
Standard Chartered PLC
Citigroup Inc.
Accenture plc
Polaris Inc.
UWS JP Morgan EM A OSB
Everest Group, Ltd.
LTIMindtree Limited
Citizens, Inc.
Wipro Ltd
IND
Phil Fersht
Don Callahan
Ronak Doshi
Tim Ryan
Show more
08:24 21.03.2025
Deutsche Bank lowers Accenture price target amid federal services challenges
08:23 21.03.2025
Accenture boosts revenue forecast amid rising demand for AI and cloud services
04:15 21.03.2025
Barclays maintains buy rating on Accenture amid market weakness
16:30 20.03.2025
Accenture reports revenue decline amid government spending cuts under Musk's administration
14:14 20.03.2025
Accenture increases annual revenue outlook driven by demand for AI services
12:29 20.03.2025
bnp paribas exane lowers accenture price target to 335 maintains neutral rating
10:41 19.03.2025
Morgan Stanley lowers Accenture price target to 372 maintains equalweight rating
11:22 17.03.2025
telecom vendor analysis reveals growth trends for huawei ericsson and nokia
Infinera Corp
Alcatel-Lucent e.U.
Tech Mahindra Limited
Sumitomo Electric Industries, Ltd.
Palo Alto Networks, Inc.
LENOVO GROUP
Commvault Systems, Inc.
HCL Technologies FUT, February
Infosys Ltd
Ubiquiti Inc.
Fujitsu Limited
Dell Technologies Inc.
Spirent Communications plc
Wipro Ltd
Extreme Networks, Inc.
Comba Telecom Systems Holdings Ltd
SeaChange International, Inc.
AsiaInfo Technologies Ltd
Tata Consultancy Services Limited
Amdocs Ltd
Sterlite Technologies Limited
FIBERHOME TELCOM
ERICSSON - CLASS B
Comarch S.A.
Adtran Inc
ADVA Optical Networking SE
Ciena Corporation
Samsung Electronics Co., Ltd.
Italtel S.p.A.
HENGTONG OPTIC-ELECTRIC
NEC Corporation
Accenture plc
Alphabet Inc.
Nutanix, Inc.
Nokia Oyj
Microsoft Corporation
cyan AG
Technicolor SA
Nexans
Sopra Steria Group
Corning Inc
Huber+Suhner AG
Transmode AB
Calix, Inc.
Check Point Software Technologies Ltd.
Optiva Inc.
Dycom Industries, Inc.
Ceragon Networks Ltd.
Oracle AI USD
Allied Telesis Holdings K.K.
Mitsubishi Electric Corp
Dynatrace, Inc.
Pace plc
Fortinet, Inc.
Clearfield, Inc.
Exfo Inc.
F5 Networks, Inc.
Prysmian S.p.A.
Ribbon Communications Inc.
ZTE
Capgemini SE
Amphenol Corp
DATANG TELECOM
Fujikura Ltd.
Juniper Networks, Inc.
Citrix Systems Inc.
Brocade Communications Systems Inc.
RADCOM Ltd.
TE Connectivity plc
Casa Systems Inc.
Tejas Networks Limited
Kudelski SA
SUBEX LTD.
Ruckus Wireless LLC
Harmonic Inc.
Rakuten Group, Inc.
Aviat Networks, Inc.
Cisco Systems, Inc.
Kyndryl Holdings, Inc.
MasTec, Inc.
Net Insight AB
Dragonwave Inc.
Radware Ltd.
Arista Networks Inc
Atos SE
Hitachi, Ltd.
Wiwynn Corporation
Furukawa Electric Co., Ltd.
Itochu Techno-Solutions Corporation
Amazon.com, Inc.
NetScout Systems, Inc.
Westell Technologies, Inc.
CommScope Holding Co Inc
SAP SE
Data Call Technologies, Inc.
CHN
Show more
12:15 10.02.2025
BNP Paribas Fortis to outsource 500 jobs to Accenture in restructuring plan
22:50 30.01.2025
Trending
Subcategory
Corporate News
Industry Trends
Fintech Startups
Venture Capital Investments
Startups & Entrepreneurship
Emerging Startups
Funding Rounds & Investments
AI Innovations
Economic Indicators
Cryptocurrency Trends
Retail and Consumer Goods
AI Applications
Global Trade Developments
Banking Regulations
Stock Market Updates
Supply Chain Management
IPOs & SPACs
Crypto Adoption and Integration
Private Equity Deals
Financial Scams and Security
Countries:
Companies:
Microsoft Corporation Corp.
Google LLC
Uber Technologies Inc.
NIO Inc.
Amazon.com Inc.
Apple Inc.
Honda Motor Co. Ltd.
Toyota Motor Corporation
The Goldman Sachs Group, Inc.
VOLKSWAGEN AG
Delivery Hero SE
PayPal Holdings Inc.
Alphabet Inc.
Bank of China Limited (Inc. in China)
VanEck Vietnam ETF
Legal & General Group Plc
iShares Silver Trust
Ather Energy Ltd.
TVS Motor Company Ltd.
Itcons E-Solutions Ltd.
Currencies:
United States Dollar
Euro
Indian Rupee
Japanese Yen
Chinese Yuan
South Korean Won
Saudi Riyal
Turkish Lira
British Pound Sterling
Malaysian Ringgit
Filipino Peso
Offshore Chinese Yuan
People: