5 Best Information Technology Stocks To Watch Right Now

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of information technology outsourcing and service provider Computer Sciences (NYSE: CSC  ) dipped as much as 12% after the company reported mixed fourth-quarter results.

So what: Computer Sciences CEO Mike Lawrie commented that his company's transition away from infrastructure sales toward industry software and service sales will be better for the long run, but that this transition could hurt revenue in the interim. Not surprisingly, revenue fell 7% from the previous year -- to $3.7 billion -- which was shy of the $3.8 billion that Wall Street had been expecting. On the bright side, adjusted EPS came in at $1.27 compared to the $1 the Street had estimated, and the company upped its EPS forecast to a range of $3.30-$3.50.

5 Best Information Technology Stocks To Watch Right Now: Premafin(PRAI.MI)

Premafin Finanziaria SpA, through its subsidiary, engages in the insurance business in Italy and internationally. Its products include: car insurance, such as civil liability and auto; non-life insurance, which comprise liability, injury, illness, transportation, and individual risks; and life insurance and financial products, such as pension funds and asset management. The company also undertakes promotion and development of real estate. Premafin Finanziaria SpA is headquartered in Rome, Italy.

5 Best Information Technology Stocks To Watch Right Now: Meghmani Organics Limited (M30.SI)

Meghmani Organics Limited engages in manufacturing, selling, distributing, and trading pigments and agrochemicals. The company offers pigment products, including Phthalocynine Green 7, copper phthalocynine blue, alpha blue, and beta blue pigments used in various applications, such as printing inks, plastics, rubber, paints, textiles, leather, and paper. It also provides agrochemical products in the categories of pesticide intermediates, technical grade pesticides, and pesticide formulations, which are used in crop protection, public health, termite and insect control, and veterinary applications. The company sells its products directly, as well as through a network of stockists, agents, distributors, and dealers. Meghmani Organics Limited offers its products to customers in India, North America, Europe, Central and Latin America, the Asia-Pacific, South Africa, and Brazil. The company was formerly known as Gujarat Industries. Meghmani Organics Limited was founded in 1986 a nd is based in Ahmedabad, India.

Hot Construction Stocks To Own For 2014: Take-Two Interactive Software Inc.(TTWO)

Take-Two Interactive Software, Inc. publishes, develops, and distributes interactive entertainment software, hardware, and accessories worldwide. The company develops and publishes software titles for various gaming and entertainment hardware platforms, including PlayStation3 and PlayStation2 computer entertainment systems, PlayStation Portable system, Xbox 360 video game and entertainment system, and Wii and DS systems, as well as for the personal computer and games for Windows. It offers products through its wholly owned labels Rockstar Games and 2K, which publishes titles under 2K Games, 2K Sports, and 2K Play. The company, through its subsidiary, Jack of All Games, also distributes software, hardware, and accessories in North America. Its proprietary brand franchises include Grand Theft Auto; Sid Meier's Civilization; Max Payne; Midnight Club; Manhunt; Red Dead Revolver; Bully; BioShock; Sid Meier's Railroads!; Sid Meier's Pirates!; Carnival Games; and Top Spin, as wel l as licensed brands comprise the sports games Major League Baseball 2K; NBA 2K; and NHL 2K. The company sells its software titles to retail outlets through direct relationships with large retail customers and third party distributors. Its customers include mass merchandisers, specialty retailers, video stores, electronics stores, toy stores, national and regional drug stores, and supermarket and discount store chains. The company was founded in 1993 and is headquartered in New York, New York.

Advisors' Opinion:

• [By David Sterman]

  This video game developer has a pair of catalysts in the near future. The first involves the release of Max Payne 3, the latest title in the Max Payne action video game series, slated for launch in March 2012. This has led some analysts, including Brean Murray's Arvind Bhatia, to modestly raise EPS estimates for the current fiscal year that ends in March 2012.
  
  The real catalyst, however, is the fiscal 2013 release of Grand Theft Auto V that has analysts salivating. This title is expected to be a blockbuster, which could singlehandedly push EPS from about $0.20 this year to the $2 to $3 range in fiscal 2013. It's not clear when in 2012 the game will be released, but shares have typically started to move up well in advance of major releases. Though the actual catalyst is a few quarters away, anticipation of the event makes this stock much more timely.

• [By George Putn]

  Take-Two Interactive is another of our speculation plays that we think has some definite bounce back in 2012. The company had an amazing 2010 with "NBA 2K11" and "Red Dead Redemption," but it dropped the ball in 2011 with "LA Noire" and the NBA lockout hurting its follow through on 2K12. Now, 2012 brings the next installment of its amazing "Grand Theft Auto" series. We believe that this game can put through $1B in sales given the type of success of blockbuster hits in video games, and it can be the biggest game in 2012. Look for TTWO retake $20 in 2012.

  Allocation: $1500

  Entry: $14.03

  Target: $15.50, $17.00, and $20

5 Best Information Technology Stocks To Watch Right Now: Impact Silver Corp. (IPT.V)

IMPACT Silver Corp. engages in the acquisition, mining, exploration, and development of sliver mineral properties in Mexico and the Dominican Republic. The company produces silver, lead, zinc, and gold from its Royal Mines of Zacualpan Silver Project, which comprises 423 square kilometers and is located 100 kilometers southwest of Mexico City. It also owns 100% interests in the Capire Mine Project consisting of 200 square kilometers located in the Mamatla Mineral District of central Mexico and hosts silver and base metal, as well as volcanogenic massive sulphide base and precious metal deposits; and the Veta Grande Silver Project, which comprises 10 mineral concessions and is located in the Zacatecas Silver District in central Mexico. The company is headquartered in Vancouver, Canada.

5 Best Information Technology Stocks To Watch Right Now: Flanigan's Enterprises Inc.(BDL)

Flanigan's Enterprises, Inc. operates a chain of full-service restaurants and package liquor stores in south Florida. It operates restaurants under Flanigan?s Seafood Bar and Grill name, which offers alcoholic beverages and full food services; and package liquor stores under Big Daddy?s Liquors name that provides brand name and private label liquors, beer, and wines. As of April 2, 2011, the company operated 24 units that consists of restaurants, package liquor stores, and combination restaurants/package liquor stores; 1 adult entertainment club; and franchised 5 units comprising 1 restaurant and 4 combination restaurants/package liquor stores. Flanigan's Enterprises, Inc. was founded in 1959 and is headquartered in Fort Lauderdale, Florida.