3 Buy-Rated Information Technology Services Stocks to Buy for 2022 By StockNews

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3 Buy-Rated Information Technology Services Stocks to Buy for 2022

Published Dec 13, 2021 09:24AM ET Updated Dec 13, 2021 10:31AM ET

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3 Buy-Rated Information Technology Services Stocks to Buy for 2022

ACN

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IBM

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As the hybrid work-structure culture regains traction owing to the resurgence of COVID-19 cases, the demand for information technology services is set to accelerate. So, we think it could be wise to scoop up shares of quality information technology stocks Accenture (ACN), International Business Machines (NYSE:IBM), and EPAM Systems (EPAM). Also, they each have a ‘Buy’ rating in our proprietary rating system. Read on.The COVID-19 omicron variant has reached almost 25 states, and most organizations are returning to a hybrid working environment. This is driving increased demand for information technology services. Investors’ interest in the information technology services sector is evident in the Vanguard Information Technology Index Fund ETF’ (VGT) 2.3% returns in the past month and 9.3% gains over the past three months.

Furthermore, the information technology services market is expected to grow exponentially due to increasing demand from almost every industry as part of their digital transformation efforts. According to Statista, IT spending worldwide is expected to reach approximately $4.2 trillion in 2021.

Given this backdrop, we think it could be wise to bet on fundamentally strong information technology services stocks Accenture plc (NYSE:ACN), International Business Machines Corporation ( IBM ), and EPAM Systems, Inc. (EPAM). They each have an overall B (Buy) rating in our proprietary POWR Ratings system.

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