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Has Paylocity Holding (PCTY) Outpaced Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Paylocity (PCTY - Free Report) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Paylocity is a member of the Computer and Technology sector. This group includes 661 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Paylocity is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PCTY's full-year earnings has moved 25.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PCTY has returned 4.6% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -23.9% on a year-to-date basis. As we can see, Paylocity is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Impinj (PI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 6%.
For Impinj, the consensus EPS estimate for the current year has increased 33.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Paylocity is a member of the Internet - Software industry, which includes 147 individual companies and currently sits at #139 in the Zacks Industry Rank. This group has lost an average of 47.9% so far this year, so PCTY is performing better in this area.
On the other hand, Impinj belongs to the Electronics - Semiconductors industry. This 43-stock industry is currently ranked #131. The industry has moved -24.2% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Paylocity and Impinj. These stocks will be looking to continue their solid performance.
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Has Paylocity Holding (PCTY) Outpaced Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Paylocity (PCTY - Free Report) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Paylocity is a member of the Computer and Technology sector. This group includes 661 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Paylocity is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PCTY's full-year earnings has moved 25.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PCTY has returned 4.6% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -23.9% on a year-to-date basis. As we can see, Paylocity is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Impinj (PI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 6%.
For Impinj, the consensus EPS estimate for the current year has increased 33.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Paylocity is a member of the Internet - Software industry, which includes 147 individual companies and currently sits at #139 in the Zacks Industry Rank. This group has lost an average of 47.9% so far this year, so PCTY is performing better in this area.
On the other hand, Impinj belongs to the Electronics - Semiconductors industry. This 43-stock industry is currently ranked #131. The industry has moved -24.2% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Paylocity and Impinj. These stocks will be looking to continue their solid performance.