Investors focused on the Computer and Technology space have likely heard of Paycom Software (PAYC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Paycom Software is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #8. 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. PAYC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PAYC's full-year earnings has moved 5.09% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, PAYC has moved about 89.71% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 16.14% on a year-to-date basis. As we can see, Paycom Software is performing better than its sector in the calendar year.
Looking more specifically, PAYC belongs to the Internet - Software industry, which includes 89 individual stocks and currently sits at #96 in the Zacks Industry Rank. On average, stocks in this group have gained 27.45% this year, meaning that PAYC is performing better in terms of year-to-date returns.
PAYC will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.