Has Pegasystems (PEGA) Outpaced Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Pegasystems (PEGA) 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.
Pegasystems is one of 606 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PEGA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PEGA's full-year earnings has moved 8.18% 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 PEGA has returned about 31.02% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 14.52% on a year-to-date basis. As we can see, Pegasystems is performing better than its sector in the calendar year.
Looking more specifically, PEGA belongs to the Computer - Software industry, a group that includes 42 individual stocks and currently sits at #116 in the Zacks Industry Rank. On average, this group has gained an average of 23.41% so far this year, meaning that PEGA is performing better in terms of year-to-date returns.
PEGA 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.
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