Has Infosys (INFY) Outpaced Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Infosys (INFY) been one of those stocks this year? 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.
Infosys is one of 613 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within 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 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. INFY is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for INFY's full-year earnings has moved 5.70% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that INFY has returned about 58.53% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 29.78%. As we can see, Infosys is performing better than its sector in the calendar year.
Looking more specifically, INFY belongs to the Computers - IT Services industry, a group that includes 32 individual stocks and currently sits at #160 in the Zacks Industry Rank. Stocks in this group have gained about 35.85% so far this year, so INFY is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track INFY. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.