10 Best Information Technology Services Stocks to Buy Right Now

4. Parsons Corporation (NYSE:PSN)

Analyst Upside: 49.06%

No. of Hedge Fund Holders: 30

Parsons Corporation (NYSE:PSN) offers solutions and services for the security environment, unprecedented global infrastructure demand, and digital transformation. The company operates through two segments including Federal Solutions and Critical Infrastructure. The company’s digital solutions are focused on aviation, rail and transit, bridges, roads, and highways, leveraging sensors and data to drive smart sustainable infrastructure.

On January 24, Jefferies analyst Sheila Kahyaoglu lowered the price target on PSN shares from $110 to $100, keeping a Buy rating on the stock. The analyst downgraded the price target on PSN due to the “elevated risk” from the Department of State Humanitarian contract. However, the company will not miss $550 million or 8% of its sales due to the absence of the contract.

Parsons Corporation (NYSE:PSN) recorded a remarkable growth in the 2023-2024 period, with a 23% organic growth. The company’s performance is expected to slow down in the 2025-2026 period, with organic growth dropping to only 5%. The company is well-positioned and benefits from high government infrastructure spending in America, in addition to its initiatives in the Mideast. Parsons has reflected strong performance with revenue growth of just under 29% in the last twelve months, reaching $6.51 billion. On average, analysts expect Parsons Corporation’s (NYSE:PSN) EPS to rise to $3.93 in 2025 from $3.40 in 2024.