Morningstar | We expect Accenture to outperform the broader IT services industry over the long term.
Accenture is a global provider of management consulting, technology services, and outsourcing. With over 450,000 employees, operations in over 120 countries, and deep specialization in about 40 vertical industries, the company is regarded as a leading IT services provider. Accenture collaborates closely with its clients in order to improve their efficiency, value, and growth prospects. The firm’s clients include the veritable who’s who of global business, and we believe Accenture’s vertically specialized skills, global delivery network, and close industry ties have led to such success. Despite a highly competitive and fragmented market, we expect Accenture to outperform the broader IT services industry over the long term given meaningful switching costs and intangible assets.The IT services industry remains highly competitive. However, providers such as Accenture have differentiated themselves from the competition by offering broad, timely, and informative solutions with real business benefits. Accenture’s global scale and deep industry specialization allow it to service the world’s largest multinational corporations and foster close long-lasting relationships (94 of the Fortune Global 100 companies and more than 80% of the Fortune Global 500 companies work with Accenture). This intimate collaboration with world-leading companies has led to significant switching costs and allows Accenture to gain valuable insight into emerging trends and technology, which keeps the company’s offerings highly relevant in today’s fast-paced world.Digital developments in mobile, social, cloud, and analytics will be important growth drivers for the IT services industry. Notably, Accenture’s “new†services, which include digital, cloud, and security related services, are focused on exploiting these drivers (now constitutes about 60% of the company's revenue). In addition, we believe Accenture will play an important role in transitioning corporations from legacy platforms to new consumption-based delivery models given its broad services expertise. As a result, we forecast mid- to high-single-digit top-line growth.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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