According to a report by Mordor Intelligence, the Consulting Service Market is valued at $354.01 billion in 2024 and is projected to reach $447.72 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.81%. This growth is driven by several key factors, including the increasing complexity of business operations, the rapid evolution of technology landscapes, and a heightened focus on strategic decision-making. The integration of technology into consulting services is a significant trend shaping the market. Technology-driven consulting leverages advanced tools and techniques to offer cutting-edge solutions.
Big Consulting Firms Profit Massively from AI Consulting
According to a report by the New York Times, AI is revolutionizing the consulting industry, enabling firms to achieve significant revenue growth through services such as AI strategy development, generative AI implementation, and natural language processing solutions. Consulting giants are generating hundreds of millions of dollars from AI services and reshaping the business transformation landscape. Consulting firms are not merely incorporating AI as an additional service; they are restructuring their operations around it. In just two years, Boston Consulting Group (BCG) transformed its AI consulting revenue from zero to an impressive one-fifth of its total earnings. Likewise, McKinsey is forecasting that 40% of its business will soon be AI-related.
AI is redefining efficiency in consulting. PwC’s AI solutions, for example, streamline document searches and analysis for government projects, reducing manual work and enabling deeper, faster insights. Advanced tools like these not only enhance internal processes but also provide clients with actionable intelligence that drives strategic advantage. In addition to efficiency, AI is enabling innovative business models, such as subscription-based services for continuous AI insights. AI tools are also transforming strategic decision-making by offering unbiased, data-driven insights. PwC is investing $1 billion in AI over three years, which underscores the importance of integrating AI into business strategy. According to BCC Research, the global AI consulting services market is experiencing rapid growth, growing at a 34.2% CAGR from 2023 to 2028, rising from $64.3 billion in 2023.
The consulting service market is on the cusp of substantial growth, fueled by the increasing complexity of business operations, the rapid pace of technological evolution, and a heightened focus on strategic decision-making. Big consulting firms are harnessing the power of AI to transform their business models and deliver unprecedented value to clients. With that in context, let’s take a look at the 11 best consulting stocks to buy right now.
A financial advisor discussing the latest trends in IT consulting with a client.
Our Methodology
To compile our list of the 11 best consulting stocks to buy right now, we used Finviz and Yahoo stock screeners to find the companies in the consulting services sector. We then used Insider Monkey’s Hedge Fund database to rank 11 stocks according to the largest number of hedge fund holders, as of Q3 2024. The list is sorted in ascending order of hedge fund sentiment.
Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
11 Best Consulting Stocks to Buy Right Now
11. Forrester Research, Inc. (NASDAQ:FORR)
Number of Hedge Fund Investors: 12
Forrester Research, Inc. (NASDAQ:FORR) is a leading independent research and advisory firm with a global presence. The company provides insights and strategies to help organizations drive growth and innovation. Forrester Research, Inc.’s (NASDAQ:FORR) client base spans various sectors, including technology, government, and international markets.
Forrester Research, Inc. (NASDAQ:FORR) is focusing on the migration of its client base to the Forrester Decisions platform, a platform designed to improve decision-making and operational processes. As of Q3, 78% of the company’s contract value (CV) has been successfully migrated to Forrester Decisions, with the company projecting to finish the year with over 80% of CV on the platform. Forrester Decisions offers unique features such as direct access to analysts and a generative AI research portal called Izola. Additionally, Forrester Research, Inc. (NASDAQ:FORR) is enhancing its product offerings to meet the evolving needs of its clients. In response to the growing interest in artificial intelligence, the company has also launched new services for data, AI, and analytics.
Forrester Research, Inc. (NASDAQ:FORR) is focusing on selling to C-level executives and standardizing sales activities by applying the FAST sales methodology to reduce the time to close deals. These elements are designed to ensure that the company’s research and insights are applied at the highest levels of organizations. The company is also leveraging its Board of Clients, a group of C-level executives from leading companies, to gain insights and feedback on its products and services. This close collaboration with clients aims to help the company stay aligned with market needs and improve its offerings.
10. Aeries Technology, Inc. (NASDAQ:AERT)
Number of Hedge Fund Investors: 13
Aeries Technology, Inc. (NASDAQ:AERT) is an innovative tech-driven company that provides operational services and support to businesses in North America, India, and Mexico. The company offers solutions such as process automation, cloud computing, and IT infrastructure optimization. Aeries Technology, Inc. (NASDAQ:AERT) serves a wide range of industries, including investment management, technology, and healthcare.
Aeries Technology, Inc. (NASDAQ:AERT) is at the forefront of the digital transformation wave, with a growing focus on AI and analytics services. The company has partnered with several leading clients to support their AI and natural language processing (NLP) efforts, including the development of large language models. By offering these high-value services, Aeries Technology, Inc. (NASDAQ:AERT) aims to enhance its gross margins and position itself as a go-to partner for clients on their AI journeys.
Aeries Technology, Inc. (NASDAQ:AERT) recently opened a new center of excellence in Mexico, which is designed to provide 24/7 coverage while significantly reducing costs. This initiative, known as “dual shoring,” combines the benefits of near-shoring in Mexico with established centers of excellence in India. By aligning with the time zones of its North American clients, Aeries Technology, Inc. (NASDAQ:AERT) aims to offer more flexible and responsive service and enhance operational efficiency.
Aeries Technology, Inc. (NASDAQ:AERT) is also actively evaluating acquisition targets to accelerate its growth. The company is focusing on targets that align with its core competencies and strategic goals. While Aeries Technology, Inc. (NASDAQ:AERT) has historically grown through a strong network effect and referrals, the company is now investing in a more structured sales and marketing strategy. Aeries Technology, Inc. (NASDAQ:AERT) has established a robust sales and marketing team with a dual focus: accelerating relationships with private equity firms and their portfolio companies and leveraging its unique engagement model to attract midsize U.S. companies.
9. FTI Consulting, Inc. (NYSE:FCN)
Number of Hedge Fund Investors: 19
FTI Consulting, Inc. (NYSE:FCN) is a global business consultation firm that provides strategic and operational advice to clients facing complex challenges. The company offers a wide range of services, including corporate finance and restructuring, forensic and litigation consulting, economic consulting, technology solutions, and strategic communications. FTI Consulting, Inc. (NYSE:FCN) has a presence in over 30 countries.
FTI Consulting, Inc. (NYSE:FCN) is leveraging its deep industry expertise and global network to help clients navigate through critical issues, from financial distress and regulatory compliance to mergers and acquisitions and strategic communications. One of the key strategies FTI Consulting, Inc. (NYSE:FCN) is implementing to drive future growth is a significant focus on talent acquisition and development. In Q3, the company hired more than 320 new professionals, marking the largest class of new hires in the company’s history. This influx of fresh talent, coupled with the hiring of over 25 senior managing directors (SMDs) aims to create a pipeline of skilled and motivated individuals who can deliver exceptional value to clients and drive the firm’s long-term success.
FTI Consulting, Inc. (NYSE:FCN) is also making strategic investments to enhance its capabilities and remain at the forefront of the professional services industry. These investments include expanding the firm’s expertise in areas such as artificial intelligence (AI), cybersecurity, and data analytics. Additionally, FTI Consulting, Inc. (NYSE:FCN) is investing in marketing and legal areas to support its growth and ensure compliance with evolving regulations.
8. ICF International, Inc. (NASDAQ:ICFI)
Number of Hedge Fund Investors: 19
ICF International, Inc. (NASDAQ:ICFI) is a global consulting and technology services company focused on delivering solutions in areas such as energy, public health, and disaster management. The company works with both public and private sector clients to address challenges by offering innovative strategies and actionable insights using data analytics, program management, and technology.
ICF International, Inc. (NASDAQ:ICFI) is focusing on capitalizing on the growing demand for solutions in the energy and environmental sectors, driven by demand for energy efficiency programs, flexible load management, and grid resilience services. ICF International, Inc.’s (NASDAQ:ICFI) unique combination of expertise in energy, climate, grid engineering, and disaster recovery makes it well-positioned to capitalize on this demand. The company is leveraging its ability to provide immediate disaster assessment support and long-term recovery solutions and investing in organic growth as well as strategic acquisitions to expand its capabilities.
ICF International, Inc.’s (NASDAQ:ICFI) focus on combining technology and domain expertise, is opening new avenues for growth. Furthermore, the company is also focusing on reducing debt and effectively managing cost structure to improve gross margins and operational efficiencies.
7. CRA International, Inc. (NASDAQ:CRAI)
Number of Hedge Fund Investors: 19
CRA International, Inc. (NASDAQ:CRAI), also known as Charles River Associates, is a leading consulting company that provides economic, financial, litigation and strategic advice to healthcare, energy, and technology companies, along with law firms, and governments. The company has established itself as a trusted advisor in complex matters, including antitrust, intellectual property, financial economics, and life sciences.
CRA International, Inc. (NASDAQ:CRAI) is enhancing its core practices to maintain its leadership position in key areas such as antitrust, financial economics, and intellectual property. The company is investing heavily in its Antitrust & Competition Economics segment, which has seen significant growth, fueled by demand for merger-related services and antitrust inquiries. Additionally, CRA International, Inc. (NASDAQ:CRAI) is expanding its service offerings to include new areas such as energy planning and risk investigations, which are becoming increasingly important as industries evolve and regulatory scrutiny intensifies.
CRA International, Inc. (NASDAQ:CRAI) is actively pursuing strategic acquisitions and talent development initiatives. The company is also expanding its global footprint to tap into new markets and diversify its client base. By broadening its geographic reach, the company aims to capture opportunities in emerging markets, serve a more diverse range of clients, and reduce dependency on any single market or region.
6. Huron Consulting Group Inc. (NASDAQ:HURN)
Number of Hedge Fund Investors: 21
Huron Consulting Group Inc. (NASDAQ:HURN) is a leading global management consulting firm that provides a wide range of services to clients in the healthcare, education, and commercial sectors. The company’s expertise spans strategic consulting, operational improvement, digital transformation, and managed services.
Huron Consulting Group Inc. (NASDAQ:HURN) is actively expanding its Healthcare segment by leveraging its deep industry expertise and innovative solutions. The company is investing in new capabilities and technologies, such as artificial intelligence and automation, to enhance the efficiency and effectiveness of its services. Huron Consulting Group Inc. (NASDAQ:HURN) is also exploring organic growth opportunities and potential acquisitions that can enhance its technology services, software product capabilities, and competitive advantage in the market.
Huron Consulting Group Inc.’s (NASDAQ:HURN) Commercial segment, while currently the smallest of three segments, represents a significant growth opportunity. The company is focusing on strengthening this segment by increasing collaboration across its digital and advisory capabilities. This collaborative approach is enabling Huron Consulting Group Inc. (NASDAQ:HURN) to offer more comprehensive solutions to clients, such as integrating generative AI and intelligent document processing to drive efficiency and create capacity for higher-value initiatives.
5. Resources Connection, Inc. (NASDAQ:RGP)
Number of Hedge Fund Investors: 23
Resources Connection, Inc. (NASDAQ:RGP), operating as RGP, is a global consulting firm that provides on-demand Talent, consulting, and outsourced services to a diverse range of clients. The company operates under the brands On-Demand by RGP, Veracity by RGP, and Countsy by RGP. Resources Connection, Inc. (NASDAQ:RGP) company aims to deliver tailored solutions that meet the evolving needs of its clients.
Resources Connection, Inc. (NASDAQ:RGP) has undertaken significant changes to its operating model and brand architecture to better align with the needs of its clients and the competitive landscape. The company has restructured its business into four segments: On-Demand Talent, Consulting, Outsourced Services, and a combined Europe and Asia Pacific region. This new structure allows Resources Connection, Inc. (NASDAQ:RGP) to serve a broader range of client needs and penetrate new buying centers within existing and future client sets. By articulating its capabilities and competitive advantages, the company aims to enhance cross-selling opportunities and deepen client relationships.
Resources Connection, Inc. (NASDAQ:RGP) is actively expanding its capabilities both organically and through strategic acquisitions. The company is also investing in technology, including AI-powered talent acquisition and management software, to drive faster speed to market and improve efficiency. These investments are already yielding results, with the company seeing increased engagement from clients and a growing gross pipeline. Resources Connection, Inc. (NASDAQ:RGP) has built global delivery centers in the Philippines and India to provide flexible, cost-effective talent solutions to clients. These centers enable the company to deliver in-country, nearshore, and offshore services to meet the diverse needs of clients across different geographies. The company is also focusing on cross-border sales within its multinational client base and leveraging its global infrastructure to provide seamless and integrated services.
4. Booz Allen Hamilton Holding Corporation (NYSE:BAH)
Number of Hedge Fund Investors: 32
Booz Allen Hamilton Holding Corporation (NYSE:BAH) is a global management and technology consulting firm that provides services to public and private sector clients. The United States government is one of the major clients of the company. Booz Allen Hamilton Holding Corporation (NYSE:BAH) operates across a wide range of sectors, including defense, intelligence, and civil.
Booz Allen Hamilton Holding Corporation’s (NYSE:BAH) growth strategy, VoLT, which stands for Velocity, Leadership, and Technology is designed to drive the company’s performance and position it for future success. The VoLT strategy has been instrumental in driving the company’s financial performance. In Q2 2025, the company’s revenue increased 18% year-over-year to $3.1 billion, driven by robust demand across all segments. Booz Allen Hamilton Holding Corporation’s (NYSE:BAH) civil portfolio continues to be a strong driver of growth, with revenues increasing by approximately 12% year-over-year, exclusive of discrete items.
The company’s defense revenue increased 17% year-over-year, whereas intelligence revenue increased by 8% year-over-year, driven by the support to clients on existing geopolitical conflicts, coupled with its role in modernizing defense systems and building future war-fighting capabilities. The company also secured several major contract awards in Q3, including a $2.6 billion US Army Service Solutions for Modernization Analysis Readiness Capability Threat and Training (SSMARTT) task.
To drive future growth, Booz Allen Hamilton Holding Corporation (NYSE:BAH) is leveraging its advancements in IT modernization and data analytics to help civil clients enhance citizen services and improve collaboration between government agencies. The company has successfully transitioned from a primarily analyst-focused business to a technology-enabled one and is now focusing on its cyber security services. The company aims to double its total cyber revenue over the next five years, driven by the growing threat landscape and the need for advanced technological solutions.
3. Verisk Analytics, Inc. (NASDAQ:VRSK)
Number of Hedge Fund Investors: 42
Verisk Analytics, Inc. (NASDAQ:VRSK) is a leading provider of risk assessment and decision-support solutions to the insurance and financial services industries. The company offers a wide array of solutions that help insurance, energy, and financial services companies to manage and mitigate risks. Verisk Analytics, Inc.’s (NASDAQ:VRSK) commitment to innovation and strategic client engagement has been a key driver of its continued success, as evidenced by its strong subscription revenue growth and the introduction of new solutions such as Executive Insights reports. These solutions enhance the experience by providing unique and timely views of data that are critical for informed decision-making.
To drive future growth, Verisk Analytics, Inc. (NASDAQ:VRSK) is focusing on several strategic initiatives. The company is enhancing its go-to-market approach by intensifying and elevating its strategic dialogue with clients, which has led to improved industry-wide financial metrics and stronger relationships. This engagement is critical in identifying and capitalizing on new opportunities, such as the development of solutions for climate risks and resilience. The company is also committed to continuous innovation in its data sets and solutions, as seen in the recent enhancements to its claims data and the launch of the Future of Forms, a solution that addresses the complexity of policy updates and provides significant time savings for clients.
Furthermore, Verisk Analytics, Inc. (NASDAQ:VRSK) is investing in internal processes to improve efficiency and automation, such as the launch of a new mobile application for field representatives to complete assessments directly from the field. These internal improvements are designed to speed up cycle times, enhance data validation, and automate quality control processes.
2. Equifax Inc. (NYSE:EFX)
Number of Hedge Fund Investors: 43
Equifax Inc. (NYSE:EFX) is a global data, analytics, and technology company that provides critical insights and solutions to help businesses and individuals make informed decisions. With a rich history dating back to 1899, Equifax Inc. (NYSE:EFX) has evolved into a leading provider of consumer and business credit information, workforce solutions, and identity and fraud solutions.
Equifax Inc. (NYSE:EFX) is focusing on the completion of its cloud transformation, a multi-year effort to migrate the vast majority of its data and applications to the Equifax Cloud. At the end of the third quarter, 80% of the company’s revenue was generated from cloud-based services and the company aims to reach 90% by the end of the year. This cloud migration has not only enhanced operational efficiency but also positioned the company to leverage advanced technologies such as artificial intelligence (AI) and machine learning (ML) for product development. The cloud transformation is expected to deliver significant cost savings and operational improvements and allow the company to focus more on customer growth and innovation.
Equifax Inc. (NYSE:EFX) is making significant strides in new product innovation and launched approximately 30 new products in Q3. Additionally, the company is expanding its AI and Machine Learning capabilities to develop higher-performing model products, with 100% of new models built by using Equifax AI in Q3 compared to 89% in the previous quarter. The company is developing advanced AI and ML solutions to expand its presence in the $20 billion identity and fraud market, which is expected to be a significant driver of future growth.
1. International Business Machines Corporation (NYSE:IBM)
Number of Hedge Fund Investors: 56
International Business Machines Corporation (NYSE:IBM), widely known as IBM, is a global technology leader and consulting powerhouse. The company provides integrated solutions and services in over 175 countries. International Business Machines Corporation’s (NYSE:IBM) Consulting segment supports digital transformation by helping clients optimize their strategies and operations using advanced technologies and expertise.
In the consulting sector, International Business Machines Corporation (NYSE:IBM) is actively working to capture new opportunities and maintain its position as a strategic partner for clients undergoing digital transformations. International Business Machines Corporation (NYSE:IBM) is focusing on its Granite AI models, a series of open-source, large language models (LLMs) designed to provide clients with tailored solutions to address specific business needs, that are both cost-efficient and highly effective. By providing a versatile and scalable AI solution, IBM’s Granite models are helping clients accelerate their AI initiatives and drive innovation across various industries. The company reported a robust book of business in generative AI, with over $1 billion of new bookings in the Q3, and is partnering with key technology players like AWS, Salesforce, and SAP to deliver comprehensive AI solutions.
International Business Machines Corporation (NYSE:IBM) is also leveraging its expertise in AI and automation to focus on high-value, recurring revenue streams, which are expected to expand the company’s operating margin and free cash flow generation capability.
While we acknowledge the potential of International Business Machines Corporation (NYSE:IBM) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than IBM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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