Accenture plc (NYSE:ACN) yesterday unveiled plans to launch an Applied Intelligence Studio for mining. The studio, located in Johannesburg, is expected to open in February.
The company aims to integrate Accenture Applied Intelligence’s AI and data science capabilities with expertise from its mining industry group to develop digital solutions.
The company is recruiting data scientists with engineering and mining experience. They will work with Accenture Applied Intelligence’s global team of more than 3,000 data scientists for development of these solutions.
Shares of Accenture have gained 11.6% on a year-to-date basis compared with the industry’s rise of 10.4%.
Exploring a Potential but Challenged Space
Mining, a key driver of economy in South Africa, is currently struggling against high input costs and volatile commodity prices. Thus, achieving cost competitiveness has become a priority for the sector. So, Accenture’s move to explore the space makes sense as it possesses digital capabilities to help mining companies improve operational efficiencies and workers’ safety.
The Bigger Picture
The studio is part of Accenture’s network of mining experts who serve clients in the United States, Australia and Brazil. This move appears to be an effort by the company to strengthen and expand the network globally.
Zacks Rank & Stocks to Consider
Currently, Accenture carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader Business Services sector are General Finance Corporation (NASDAQ:GFN) , Heidrick & Struggles International, Inc. (NASDAQ:HSII) and Automatic Data Processing, Inc. (NASDAQ:ADP) , each carrying 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 General Finance, Heidrick & Struggles and Automatic Data Processing is 11%, 13.5% and 12.8%, respectively.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>
General Finance Corporation (GFN): Get Free Report
Accenture PLC (ACN): Free Stock Analysis Report
Heidrick & Struggles International, Inc. (HSII): Free Stock Analysis Report
Automatic Data Processing, Inc. (ADP): Free Stock Analysis Report
Original post
Zacks Investment Research