Accenture's 2nd Innovation Hub In US To Create 400 Tech Jobs

Global consulting giant, Accenture Plc (NYSE:ACN) , announced the opening of its new innovation center in Boston, MA, this Monday. As described by Accenture, an innovation hub is a place where its clients can “work side-by-side” with the company’s professionals and explore “the latest technologies, including artificial intelligence, blockchain, robotics and augmented reality” to solve clients’ problems.

The center has been set up on the premises of the company’s existing 52,000-square-foot office at 888 Boylston Street. Approximately 1,500 employees currently work at this office and with the opening of the innovation hub, Accenture plans to add another 400 tech jobs by 2020.

Accenture has a long relationship with Boston which is evident from the fact that over the past several years, the company has heavily invested in the city’s education community. Furthermore, the city is well known for its exceptional schools and skilled tech professionals, which are perfectly in sync with Accenture’s growth initiative.

The recent move is part of the company’s strategy of opening 10 innovation centers, and making $1.4-billion technology and training investment in the United States. Under this planned investment, the company will create 15,000 new jobs in the country by 2020. The recently-announced innovation center will be Accenture’s second facility under the investment strategy, while the company already opened the first center in Houston last year in February.

The company’s long-term prospects look promising, driven by sustained focus on innovative product roll outs, continued investments in enhancing digital and marketing capabilities, along with major acquisitions. In addition, we believe regular acquisitions will significantly contribute to the revenue stream.

Accenture PLC Revenue (TTM)

Currently, Accenture carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector include Micron Technology, Inc. (NASDAQ:MU) , STMicroelectronics N.V. (NYSE:STM) and Microsoft Corporation (NASDAQ:MSFT) . While Micron and STMicroelectronics flaunt a Zacks Rank #1 (Strong Buy), Microsoft carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Micron, STMicroelectronics and Microsoft have long-term expected EPS growth rates of 10%, 5% and 12.7%, respectively.

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