In this article, we will discuss: 12 Best Consulting Stocks to Buy According to Hedge Funds.
Consulting stocks are shares of publicly traded firms that assist businesses and other organizations by providing advice and expertise.
Despite geopolitical turmoil, economic turbulence, and a flurry of technology breakthroughs affecting business in all sectors in recent years, the consulting industry’s market size has consistently grown. It shows no indications of slowing in 2025.
According to a study report issued by Spherical Insights & Consulting, the global consulting services market was valued at $327.65 billion in 2023 and is expected to reach $494.36 billion by 2033. Regionally, North America is anticipated to have the highest share of the global consulting service market during the forecast period. On the other hand, Asia-Pacific is projected to develop at the quickest rate in the global consulting service market during the forecast period.
According to SPI Research’s Professional Services Maturity Benchmark Report, despite economic volatility, management consultants’ revenue rose by 9% in 2023 YoY, driven mainly by AI, technology, and sustainability services. While global professional services growth slowed to 7.8%, management consulting outperformed the trend.
“The move to implement artificial intelligence in every industry was a key factor driving growth,” SPI stated, citing cloud, cybersecurity, robotics, and business process digitization as significant demand areas. Fee increases helped to offset inflation, with the average billable revenue per consultant climbing to $212,000. Acquisitions also had a role, with individual transactions raising revenue by 8% on average.
Positive signals are emerging from the management consulting industry, with several prominent firms expressing confidence in the market and business prospects for the coming year. Henrik Ringgaard Pedersen, head of Nordic at PA Consulting, believes that resilience advisory, AI integration, and private equity involvement will influence the consulting sector in 2025. He underlines the growing demand for resilience consulting, particularly in financial services, with a heavy emphasis on cybersecurity and IT security. He observes a shift in client expectations, which requires consultants to give specialized expertise rather than generic solutions.
Artificial intelligence remains a top priority, but companies must assist clients in setting reasonable expectations. Pedersen stated the following in this regard:
“We’ve moved from hype to reality, and now it’s about carefully considering how and to what extent AI should be used. The industry will prioritize strategic AI adoption over chasing trends.”
Another trend is rising private equity interest in consulting firms, with potential acquisitions on the horizon. Pedersen sees this as a possible opportunity, noting that some businesses are also looking into new structures to stay relevant. “Securing capital from private equity funds or even being acquired is undoubtedly a growth opportunity,” he commented. In 2021, PA Consulting itself changed ownership from the Carlyle Group to Jacobs, showing the growing internationalization of the consulting industry.
With that said, here are the 12 Best Consulting Stocks to Buy According to Hedge Funds.
A financial advisor discussing the latest trends in IT consulting with a client.
Methodology
We sifted through holdings of consulting services ETFs and online rankings to form an initial list of 20 Consulting stocks. From the resultant dataset, we chose the top 12 stocks most favored by hedge funds, using Insider Monkey’s database of 1,009 hedge funds in Q4 2024 to gauge hedge fund sentiment for stocks. We have used the stock’s Revenue Growth Rate (year-over-year) as a tie-breaker in case two or more stocks have the same number of hedge funds invested.
Why are we interested in the stocks that hedge funds pile into? 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12. Aeries Technology, Inc (NASDAQ:AERT)
Number of Hedge Fund Investors: 9
One of the Best Consulting Stocks, Aeries Technology, Inc (NASDAQ:AERT) is a professional and management services partner that provides a variety of management consulting services to private equity sponsors and their portfolio companies. Its engagement models have been developed to provide a mix of deep vertical specialty, functional expertise, and digital systems and solutions to scale, optimize, and transform a client’s business operations. The firm supports and promotes its clients’ global growth by offering a range of management consulting services, including professional advisory services and operations management services, to build and maintain dedicated delivery centers in strategic locations based on customer business needs.
In Q3 2025, Aeries Technology, Inc (NASDAQ:AERT) reported solid North American sales growth of $16.4 million, a 13.1% YoY rise, accounting for more than 93% of the total business. The company also made a remarkable financial turnaround, reporting a net income of $2.0 million versus a net loss of $16.3 million in the previous year’s third fiscal quarter. Cost-cutting efforts, notably in SG&A expense reductions, are projected to deliver extra revenue gains. Furthermore, its AI-driven transformation continues to produce real results, such as 90% accuracy in attrition prediction for a telecom client and a 40% reduction in human intervention for IT support in healthcare.
Aeries Technology, Inc (NASDAQ:AERT) recently announced a strategic leadership restructuring, naming Ajay Khare CEO and Daniel Webb CFO to promote development and operational excellence. Khare will concentrate on revenue development and improving its GCC market position, while Webb will optimize its financial strategy. The business intends to improve efficiency and grow value-driven solutions for companies supported by private equity by using AI-driven transformation and having a strong leadership team.
11. Equifax Inc. (NYSE:EFX)
Number of Hedge Fund Investors: 14
Equifax Inc. (NYSE:EFX) is a market leader in credit bureau, income, and employment verification. These are data-intensive, asset-light firms with significant entry barriers and scaling advantages. Given the fixed-cost nature of these markets, it has excellent operating leverage and rising returns on capital. Although the credit bureau market is quite mature, the firm continues to engage in new product development, global expansion, and acquisitions to expand its addressable market, which should drive above-industry growth.
The largest and fastest-growing division of Equifax Inc. (NYSE:EFX) is Workforce Solutions, which deals with income and employment verification. This segment’s economic strength stems from its collection of around 125 million non-farm payroll records, providing a unique and comprehensive dataset. The business is expanding its Workforce Solutions service to meet a variety of end industries, including mortgage, credit card, auto, government, and employee background screening. These investments, together with its market leadership and a normalization of the mortgage market, make it one of the Best Consulting Stocks.
Equifax Inc. (NYSE:EFX)’s financial performance in 2024 was strong, with sales increasing by over 8% and adjusted earnings per share rising by more than 8.5%. Free cash flow grew by 58% to $813 million, while debt leverage was decreased to less than three turns. The company made considerable progress in its cloud transformation, successfully transitioning consumer cloud customers in various countries and shifting approximately 85% of its revenue to the new Equifax cloud, resulting in $300 million in cost savings. The firm further strengthened its strategic connections, signing 15 new deals, including Workday, and reaching a record 188 million active records.
10. Forrester Research, Inc. (NASDAQ:FORR)
Number of Hedge Fund Investors: 17
Revenue Growth Rate (year-over-year): -10.05%
Forrester Research, Inc. (NASDAQ:FORR) is among the Best Consulting Stocks. It delivers independent research, data, and advisory services. It operates in the following segments: The Research segment creates and provides research, connectivity, and analytics products; the Consulting segment contains the revenues and associated costs of the company’s consulting group. Lastly, the Events segment creates and hosts in-person and virtual events.
Forrester Research, Inc. (NASDAQ:FORR) has effectively transitioned to Forrester Decisions, with 80% of contract value currently in the FD portfolio. The company also launched its generative AI tool, Izola, which quickly became the third most-visited location on its website after its mid-year debut. The client contract value jumped by 10%, from $143,000 to $158,000, by the end of 2024, whereas retention improved by two percentage points, with the multi-year contract value jumping from 62% to 69%.
Forrester Research, Inc. (NASDAQ:FORR) boosted its service offerings by launching Forrester Decisions for data, AI, and analytics, which strengthened its data strategy and governance capabilities. The firm predicts flat CV growth in 2025, with revenue declining but cash flow reverting to historical levels. The business plans to improve retention, growth, and event techniques to boost CV growth.
9. CRA International, Inc. (NASDAQ:CRAI)
Number of Hedge Fund Investors: 17
Revenue Growth Rate (year-over-year): 10.17%
CRA International, Inc. (NASDAQ:CRAI) ranks ninth on our list of Best Consulting Stocks. It is a US-based advisory company that offers economic, financial, and management consulting services. The firm advises clients on economic and financial challenges arising from litigation and regulatory actions, as well as assisting businesses in developing critical business plans and resolving performance issues. Clients include domestic and foreign companies, government agencies, public and private utilities, and national and international trade groups. The business makes the majority of its revenue in the United States, but it also has a presence in the United Kingdom and other countries.
CRA International, Inc. (NASDAQ:CRAI) had a remarkable revenue growth in fiscal 2024, growing revenue by 10.2% to $687.4 million, marking the seventh consecutive year of record annual revenue. Net income, earnings per diluted share, and EBITDA rose by more than 20% YoY, exceeding revenue growth. In Q4 2024, the firm achieved revenue growth of 9.2% from Q4 2023, fueled by 7.8% growth in North America and 15.7% growth in overseas operations. Legal and regulatory services revenue grew by 7% in the fourth quarter, outpacing the larger legal market, while finance and intellectual property practices surged by more than 20% YoY.
Barrington analyst Kevin Steinke upgraded CRA International, Inc. (NASDAQ:CRAI)’s price objective to $224 from $212 and maintained an Outperform rating on the stock following Q4 adjusted EPS above the firm’s estimate, and the consensus and 2025 sales guidance exceeded expectations.
8. Resources Connection, Inc. (NASDAQ:RGP)
Number of Hedge Fund Investors: 20
One of the Best Consulting Stocks, Resources Connection, Inc. (NASDAQ:RGP), primarily provides consultancy and business initiative support services through its operating subsidiary, Resources Global Professionals. There are two segments: Resources Global Professionals (RGP) and Sitrick. The RGP category focuses on providing consulting services that address its clients’ operational needs and transformation objectives by combining bench and on-demand talent. The Sitrick division offers corporate, financial, transactional, and crisis communication and management solutions. The majority of the company’s revenue comes from the RGP division. Geographically, it draws most of its revenue from North America, with the remainder coming from Europe and the Asia Pacific region.
Resources Connection, Inc. (NASDAQ:RGP) is successfully implementing its plan, resulting in sequential revenue growth, increased gross margins, and improved adjusted EBITDA. Stronger cross-selling, higher bill rates, and improved utilization all contributed to the Consulting segment’s growth. The business is in a strong position to grow in the upcoming year because of improved operational efficiency and a stabilized demand environment.
Revenue in the Consulting category climbed by $1.6 million, or 2.7%, to $60.6 million in the second quarter of fiscal 2025, from $59.1 million in the second quarter of fiscal 2024. The growth was principally driven by a 6.2% (also 6.2% on a constant currency basis) increase in the average bill rate, which was essentially the result of the company’s value pricing strategy.
7. FTI Consulting, Inc. (NYSE:FCN)
Number of Hedge Fund Investors: 25
FTI Consulting, Inc. (NYSE:FCN) generates revenue by offering professional business consultancy services to clients. The company operates in five segments: corporate finance, forensic and litigation consulting, economic consultancy, technology, and strategic communications. The majority of the company’s revenue comes from the Corporate finance area. Customers of the company come from a variety of industries, including construction, energy and power, environmental, financial institutions, healthcare and life science, insurance, real estate and infrastructure, retail and consumer products, telecom, media, and technology. The majority of the firm’s revenue comes from serving customers in the United States.
FTI Consulting, Inc. (NYSE:FCN)’s revenues climbed 6% to $3.7 billion in 2024 from $3.49 billion in 2023, marking the tenth consecutive year of exceptional growth. The company had a strong first half, with revenues climbing 12% and EPS rising 48% YoY. Despite market headwinds, net income jumped to $280.1 million from $274.9 million, backed by a lower tax rate and FX remeasurement gains. Furthermore, free cash flow more than doubled to $360.2 million from $174.9 million, showing significant financial strength and making it among the Best Consulting Stocks.
FTI Consulting, Inc. (NYSE:FCN) stated on March 25 that its technology unit has added additional capabilities to the IQ.AI by FTI Technology suite of AI solutions, which will assist clients with investigations, antitrust, data breaches, and legal challenges. The new capabilities include IQ.AI for Review, which provides cost savings and faster turnaround times throughout the document review lifecycle. It is intended to expedite first-level review operations and optimize privilege classification regardless of complex document formats and data types.
6. Huron Consulting Group Inc. (NASDAQ:HURN)
Number of Hedge Fund Investors: 26
Huron Consulting Group Inc. (NASDAQ:HURN) is a professional services company. The firm offers expertise in technology, operations, advisory services, and analytics across three operational segments: healthcare, education, and commercial. The healthcare segment assists enterprises in transforming and innovating delivery models to focus on patient well-being by increasing quality outcomes, decreasing care variance, and fundamentally improving patient and population health. The Education part offers management consulting and technology solutions, while the Commercial segment focuses on supporting industries and organizations undergoing upheaval and regulatory change. The healthcare segment accounts for the vast majority of company revenue. The stock is up over 15% year to date, making it one of the Best Consulting Stocks on our list.
Huron Consulting Group Inc. (NASDAQ:HURN) announced revenue before reimbursable expenses in Q4 2024, up 14.5%, while full-year RBR jumped 9.1%, marking the fourth straight year of high single-digit or better growth. The healthcare division led with a record RBR of $756 million, up 12% YoY, including a rise of 18% in Q4. The Education category also performed well, with RBR increasing 10.4% to a record $474.2 million due to high demand for digital, strategy, and operational services. The firm returned more than $122 million to shareholders through share repurchases, and its stock price improved 21% by 2024. Additionally, adjusted EBITDA margins rose by 120 basis points to 13.5%, marking the fourth consecutive year of margin expansion.
Truist upgraded Huron Consulting Group Inc. (NASDAQ:HURN)’s price objective to $180 from $165 and maintained a Buy rating on the stock following its Q4 earnings beat. Its core Healthcare and Higher Education industries are expected to grow faster than originally projected due to improvements in federal expenditure, according to a research note. A 15% cap on overhead charges for NIH funding to academic medical centers could stimulate larger enterprise projects at universities, while projected federal healthcare spending cuts could boost demand for performance improvement services at hospitals until 2027, according to the firm.
5. ICF International, Inc. (NASDAQ:ICFI)
Number of Hedge Fund Investors: 27
ICF International, Inc. (NASDAQ:ICFI) is ranked fifth on our list of the Best Consulting Stocks. It is a technology, management, and policy consulting firm that serves both government and commercial clients, with the US government accounting for a large amount of its revenue. The stock plummeted in response to Donald Trump’s plans to significantly reduce government expenditure. However, Wasatch Long/Short Alpha Fund anticipates the cuts will significantly impact the firm. If federal government spending cuts are on their way, they may see a future in which departments rely more heavily on consultants.
ICF International, Inc. (NASDAQ:ICFI) reported strong commercial energy revenue growth in 2024, up 26% due to new contract wins, expansions, and the acquisition of Applied Energy Group. The adjusted EBITDA margin rose 30 basis points to 11.2%, leading to a 15% increase in non-GAAP EPS to $7.45. The company repurchased 395,000 shares on the open market, showing confidence in its long-term outlook. It also received more than $210 million in contracts from the European Commission and the UK government to boost research and innovation. Furthermore, operating cash flow exceeded forecasts at $171.5 million, allowing total debt to be reduced to $411.7 million by the end of the year.
ICF International, Inc. (NASDAQ:ICFI) recently received two re-compete contracts totaling more than $35 million from a major Southern electric company to administer its residential and commercial demand-side management programs. The company will use its AI-powered consumer analytics platform to improve DSM program performance, maximize energy savings, and ensure consistent power delivery. It has also launched more than 25 innovation pilots that will improve program execution and customer experience.
4. Verisk Analytics, Inc. (NASDAQ:VRSK)
Number of Hedge Fund Investors: 40
One of the Best Consulting Stocks, Verisk Analytics, Inc. (NASDAQ:VRSK) is the data and analytics powerhouse of the US property and casualty insurance industry. The firm uses a large contributory database and industry contacts dating back to its inception as an insurance provider consortium to develop analytical solutions that improve underwriting and claims results, as well as operating efficiency. Along with a contributory database of over 32 billion standardized insurance transaction records, Verisk has established a proprietary dataset of P&C risks facing over 16 million commercial properties and environmental hazards facing every US postal address. It is also a leader in catastrophe modeling used by insurers, financial institutions, and governments.
Verisk Analytics, Inc. (NASDAQ:VRSK) posted solid fourth-quarter results, exceeding sales growth by 8.62% YoY and earnings projections due to value-based pricing and improved product usage. Strict cost discipline increased margins, strengthening the company’s operational strength. While the 2025 guidance forecasts mid-single-digit revenue growth amidst macroeconomic uncertainties, profitability is likely to improve in the medium term, as per Morningstar analysts. Despite cautious near-term perspective modifications, Verisk remains a high-quality, moaty business with significant intangible assets. The company has the potential for long-term growth through consistent execution and margin expansion.
Verisk Analytics, Inc. (NASDAQ:VRSK) recorded a record free cash flow of $920 million in 2024, up 11% from the previous year. The Board approved a 15% dividend raise and an additional $1 billion in share repurchase authorization.
3. Booz Allen Hamilton Holding Corporation (NYSE:BAH)
Number of Hedge Fund Investors: 48
Booz Allen Hamilton Holding Corporation (NYSE:BAH) provides management consulting services to the United States government. Other services include cloud computing and cybersecurity consulting, as well as engineering consulting. The consultancy services are geared toward defense, intelligence, and civic markets. Moreover, the firm offers management and technology consulting services to large companies, institutions, and non-profit organizations. The company aids clients with long-term contracts across the globe.
Booz Allen Hamilton Holding Corporation (NYSE:BAH) reported positive financial performance in Q3 FY2025, with 14% revenue growth, 13% organic growth, and an adjusted EBITDA of $332 million at an 11.4% margin. The company announced a record backlog of $39 billion, up 15% YoY.
Booz Allen Hamilton Holding Corporation (NYSE:BAH) currently has the largest artificial intelligence business in the federal government and is one of the world’s leading cybersecurity firms. To improve its market position, the company extended partnership agreements with Palantir Technologies and Amazon Web Services to drive advances in cloud migration, cybersecurity, and generative AI.
Booz Allen Hamilton Holding Corporation (NYSE:BAH) also spent roughly $150 million on share repurchases and raised its dividend by $0.04 per share. Headcount grew by 6% YoY, and the company anticipates double-digit growth for the fiscal year, with an updated revenue growth target of 12% to 13%.
2. International Business Machines Corporation (NYSE:IBM)
Number of Hedge Fund Investors: 60
International Business Machines Corporation (NYSE:IBM), one of the world’s largest IT services companies and Best Consulting stocks, continues to be the leading provider of mainframes while also expanding its consulting and software businesses by concentrating on digital transformation projects and hybrid cloud infrastructure. The firm has had to reinvent itself over the last few decades as its core mainframe business has confronted shifting industry dynamics. While the company has not always been recognized for being at the forefront of innovation, Morningstar analysts believe it has properly positioned itself to meet the demands of businesses seeking IT infrastructure upgrades, consulting services, and hardware. Its software offerings are used in hybrid cloud-focused initiatives, as well as consulting services to implement and support these projects. These projects can also operate on IBM-assisted hardware.
In 2024, International Business Machines Corporation (NYSE:IBM)’s revenue rose by 3%, while the business generated $12.7 billion in free cash flow, the highest in years. Software was a big driver, expanding by 9%, while RedHat had double-digit growth. Infrastructure revenues remained consistent, and while consulting revenue fell slightly short of Wall Street expectations, its investments in AI and partnerships are expected to drive future growth. Software currently accounts for 45% of the company’s business, with recurring revenue exceeding $15 billion. Q4 2024 was exceptionally strong, with 11% revenue growth, headed by RedHat’s 17% surge. The company’s generative AI business is also gaining traction, with total contracts worth $5 billion.
On January 28, International Business Machines Corporation (NYSE:IBM) declared a quarterly cash dividend of $1.67 per share, paid on March 10, 2025. This maintains the company’s record of regular dividend payments, which date back to 1916. The company has also increased its dividends for the past 29 years, making it one of the Best Consulting Stocks.
1. Accenture plc (NYSE:ACN)
Number of Hedge Fund Investors: 79
The Best Consulting stock, Accenture plc (NYSE:ACN) is also one of the world’s major IT services organizations. It offers both consulting and outsourced services. Its growth will continue to be strong due to the continuation of digital transformation trends and a long-term AI deployment trend. The firm will continue to dominate the IT services industry and maintain its broad economic moat due to the company’s well-known reputation, which Morning analysts consider crucial for the consulting business, and its proven ability to apply expertise to a variety of enterprise difficulties.
The company just disclosed its Q2 FY 2025 earnings, which showed an 8.5% revenue gain in Euros. In terms of USD, revenue growth was 5%. This gain was mostly driven by an 11% rise in the Americas area. Gross margins fell marginally from the previous year.
The estimated revenue for Q3 FY2025 is between $16.9 billion and $17.5 billion, taking into account a foreign exchange rate effect of about -0.5 percent. According to the projection, Accenture plc (NYSE:ACN) anticipates making up to $3 billion in acquisitions this fiscal year, with a focus on important growth areas. In local currency, sales growth is predicted to range between 5% and 7% in the fiscal year 2025.
Baird Equity Research raised Accenture plc (NYSE:ACN) from Neutral to Outperform, with a $390 target price. Analysts highlighted that the company’s stock has declined in recent years due to sluggish IT demand and concerns about government budget limitations. Despite this, they foresee a rise in the firm’s Q2 2025 earnings and solid Managed Services demand.
Overall, Accenture plc (NYSE:ACN) ranks first on our list of the 12 Best Consulting Stocks to Buy According to Hedge Funds. While we acknowledge the potential for ACN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ACN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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