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Is Paylocity Holding (PCTY) Outperforming Other Computer and Technology Stocks This Year?

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Investors focused on the Computer and Technology space have likely heard of Paylocity Holding (PCTY - 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.

Paylocity Holding is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #6. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PCTY is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for PCTY's full-year earnings has moved 16.06% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that PCTY has returned about 63.35% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 23.04% on a year-to-date basis. This shows that Paylocity Holding is outperforming its peers so far this year.

Looking more specifically, PCTY belongs to the Internet - Software industry, which includes 91 individual stocks and currently sits at #67 in the Zacks Industry Rank. This group has gained an average of 14.75% so far this year, so PCTY is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track PCTY. The stock will be looking to continue its solid performance.

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