The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Workday (WDAY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of WDAY and the rest of the Computer and Technology group's stocks.
Workday is one of 638 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. WDAY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for WDAY's full-year earnings has moved 11.95% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that WDAY has returned about 34.39% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 24.15% on a year-to-date basis. This means that Workday is performing better than its sector in terms of year-to-date returns.
Breaking things down more, WDAY is a member of the Internet - Software industry, which includes 87 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 37.93% this year, meaning that WDAY is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track WDAY. The stock will be looking to continue its solid performance.
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