Has Amdocs (DOX) Outpaced Other Computer and Technology Stocks This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Amdocs (DOX) 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.

Amdocs is a member of the Computer and Technology sector. This group includes 664 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. Amdocs is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for DOX's full-year earnings has moved 1.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, DOX has moved about 14.2% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 23.8%. This means that Amdocs is performing better than its sector in terms of year-to-date returns.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Globalstar (GSAT). The stock has returned 12.1% year-to-date.

For Globalstar, the consensus EPS estimate for the current year has increased 9.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Amdocs belongs to the Computers - IT Services industry, which includes 40 individual stocks and currently sits at #146 in the Zacks Industry Rank. On average, this group has lost an average of 25.6% so far this year, meaning that DOX is performing better in terms of year-to-date returns.

In contrast, Globalstar falls under the Satellite and Communication industry. Currently, this industry has 7 stocks and is ranked #169. Since the beginning of the year, the industry has moved -20.6%.

Amdocs and Globalstar could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.

Profiting from the Metaverse, The 3rd Internet Boom (Free Report):

Get Zacks' special report revealing top profit plays for the internet's next evolution. Early investors still have time to get in near the "ground floor" of this $30 trillion opportunity. You'll discover 5 surprising stocks to help you cash in.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.