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Has CDW (CDW) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of CDW (CDW - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
CDW is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. CDW is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CDW's full-year earnings has moved 2.05% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CDW has returned 68.79% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 31.21% on a year-to-date basis. This means that CDW is performing better than its sector in terms of year-to-date returns.
Breaking things down more, CDW is a member of the Computers - IT Services industry, which includes 29 individual companies and currently sits at #144 in the Zacks Industry Rank. On average, stocks in this group have gained 23.03% this year, meaning that CDW 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 CDW as it looks to continue its solid performance.