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Are Business Services Stocks Lagging Automatic Data Processing (ADP) This Year?
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Automatic Data Processing (ADP - 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? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Automatic Data Processing is one of 314 companies in the Business Services group. The Business Services group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Automatic Data Processing is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADP's full-year earnings has moved 0% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ADP has returned 4.8% so far this year. At the same time, Business Services stocks have gained an average of 4.7%. This means that Automatic Data Processing is performing better than its sector in terms of year-to-date returns.
Another Business Services stock, which has outperformed the sector so far this year, is Maplebear (CART - Free Report) . The stock has returned 58% year-to-date.
For Maplebear, the consensus EPS estimate for the current year has increased 103.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Automatic Data Processing belongs to the Outsourcing industry, a group that includes 12 individual stocks and currently sits at #85 in the Zacks Industry Rank. This group has gained an average of 2.7% so far this year, so ADP is performing better in this area.
On the other hand, Maplebear belongs to the Technology Services industry. This 172-stock industry is currently ranked #100. The industry has moved +9.7% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Automatic Data Processing and Maplebear as they could maintain their solid performance.
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Are Business Services Stocks Lagging Automatic Data Processing (ADP) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Automatic Data Processing (ADP - 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? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Automatic Data Processing is one of 314 companies in the Business Services group. The Business Services group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Automatic Data Processing is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADP's full-year earnings has moved 0% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ADP has returned 4.8% so far this year. At the same time, Business Services stocks have gained an average of 4.7%. This means that Automatic Data Processing is performing better than its sector in terms of year-to-date returns.
Another Business Services stock, which has outperformed the sector so far this year, is Maplebear (CART - Free Report) . The stock has returned 58% year-to-date.
For Maplebear, the consensus EPS estimate for the current year has increased 103.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Automatic Data Processing belongs to the Outsourcing industry, a group that includes 12 individual stocks and currently sits at #85 in the Zacks Industry Rank. This group has gained an average of 2.7% so far this year, so ADP is performing better in this area.
On the other hand, Maplebear belongs to the Technology Services industry. This 172-stock industry is currently ranked #100. The industry has moved +9.7% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Automatic Data Processing and Maplebear as they could maintain their solid performance.