Investors focused on the Computer and Technology space have likely heard of Pegasystems (PEGA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 640 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PEGA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PEGA's full-year earnings has moved 24.32% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, PEGA has moved about 55.17% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 23.98%. As we can see, Pegasystems is performing better than its sector in the calendar year.
Looking more specifically, PEGA belongs to the Computer - Software industry, a group that includes 48 individual stocks and currently sits at #10 in the Zacks Industry Rank. On average, stocks in this group have gained 24.97% this year, meaning that PEGA is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to PEGA as it looks to continue its solid performance.