For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Nice (NICE - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Nice is one of 654 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 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. NICE is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NICE's full-year earnings has moved 48.92% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NICE has returned 17.19% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -5.92% on a year-to-date basis. This means that Nice is performing better than its sector in terms of year-to-date returns.
Breaking things down more, NICE is a member of the Internet - Software industry, which includes 89 individual companies and currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 3.70% so far this year, so NICE is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on NICE as it attempts to continue its solid performance.