10 Best Information Technology Services Stocks to Buy Right Now

5. NCR Voyix Corporation (NYSE:VYX)

Analyst Upside: 30.19%

No. of Hedge Fund Holders: 30

NCR Voyix Corporation (NYSE:VYX) is an Information Technology firm that provides a cloud-based platform and other solutions to retail stores and restaurants. The company serves more than 75,000 retail lines and over 30,000 restaurant sites. Some of its leading customers include Walmart, Target, Circle K, and Fifth Group. On average, NCR Voyix Corporation supports around 26 million transactions per hour and sells 1.2 billion items per month.

NCR Voyix Corporation (NYSE:VYX) was recognized as a leader in the POS software market for full-service and quick-service restaurants in the latest IDC MarketScape Reports. Here is what the report cited about NCR’s strong market position in the sector:

“NCR Voyix is taking a fresh approach to modernization. This method focuses on innovation impact and uninterrupted operations, helping brands innovate with minimal disruption. NCR Voyix has positioned itself as a cloud platform player with strong end-to-end omni-channel support, reporting and analytics, marketing/loyalty, and operational management.”

The company is expanding its cloud-native commerce platform, which experienced a 25% increase in sites during Q3 2024, reflecting strong growth in its digital transformation efforts. NCR Voyix Corporation (NYSE:VYX) has sold its digital banking segment, generating $2.45 billion in gross proceeds and strengthening its balance sheet. This has reduced NCR’s indebtedness by almost $1.8 billion and reduced its annual cash interest expense by approximately $95 million. This will improve the company’s earnings in the upcoming quarters.