Investors focused on the Computer and Technology space have likely heard of Synopsys (SNPS Quick QuoteSNPS - 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.

Synopsys is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. 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 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. SNPS is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for SNPS's full-year earnings has moved 3.96% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, SNPS has gained about 62.18% so far this year. At the same time, Computer and Technology stocks have gained an average of 17.65%. This means that Synopsys is outperforming the sector as a whole this year.

Breaking things down more, SNPS is a member of the Computer - Software industry, which includes 48 individual companies and currently sits at #51 in the Zacks Industry Rank. On average, this group has gained an average of 28.55% so far this year, meaning that SNPS 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 SNPS as it looks to continue its solid performance.