Has Paycom Software (PAYC) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Paycom Software (PAYC), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of PAYC and the rest of the Computer and Technology group's stocks.
Paycom Software is a member of our Computer and Technology group, which includes 637 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PAYC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PAYC's full-year earnings has moved 0.19% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, PAYC has moved about 87.51% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 25.07% on a year-to-date basis. This means that Paycom Software is outperforming the sector as a whole this year.
Breaking things down more, PAYC is a member of the Internet - Software industry, which includes 87 individual companies and currently sits at #54 in the Zacks Industry Rank. On average, stocks in this group have gained 35.13% this year, meaning that PAYC is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on PAYC as it attempts to continue its solid performance.
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