Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Pegasystems (PEGA - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Pegasystems is one of 641 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 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. PEGA is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PEGA's full-year earnings has moved 24.32% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that PEGA has returned about 40.46% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 20.49%. This shows that Pegasystems is outperforming its peers so far this year.
Looking more specifically, PEGA belongs to the Computer - Software industry, which includes 48 individual stocks and currently sits at #19 in the Zacks Industry Rank. On average, this group has gained an average of 19.96% so far this year, meaning that PEGA 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 PEGA as it attempts to continue its solid performance.