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Is Paylocity Holding (PCTY) Outperforming Other Computer and Technology Stocks This Year?
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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. Is Paylocity (PCTY - Free Report) one of those stocks right now? 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.
Paylocity is a member of the Computer and Technology sector. This group includes 659 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. Paylocity is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PCTY's full-year earnings has moved 21.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PCTY has gained about 7.9% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 29.5% on average. As we can see, Paylocity is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Wesco International (WCC - Free Report) . The stock has returned 4.9% year-to-date.
The consensus estimate for Wesco International's current year EPS has increased 9.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Paylocity belongs to the Internet - Software industry, which includes 147 individual stocks and currently sits at #140 in the Zacks Industry Rank. Stocks in this group have lost about 49.8% so far this year, so PCTY is performing better this group in terms of year-to-date returns.
On the other hand, Wesco International belongs to the Electronics - Parts Distribution industry. This 4-stock industry is currently ranked #94. The industry has moved -9.5% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Paylocity and Wesco International as they could maintain their solid performance.
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Is Paylocity Holding (PCTY) Outperforming 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. Is Paylocity (PCTY - Free Report) one of those stocks right now? 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.
Paylocity is a member of the Computer and Technology sector. This group includes 659 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. Paylocity is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PCTY's full-year earnings has moved 21.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PCTY has gained about 7.9% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 29.5% on average. As we can see, Paylocity is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Wesco International (WCC - Free Report) . The stock has returned 4.9% year-to-date.
The consensus estimate for Wesco International's current year EPS has increased 9.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Paylocity belongs to the Internet - Software industry, which includes 147 individual stocks and currently sits at #140 in the Zacks Industry Rank. Stocks in this group have lost about 49.8% so far this year, so PCTY is performing better this group in terms of year-to-date returns.
On the other hand, Wesco International belongs to the Electronics - Parts Distribution industry. This 4-stock industry is currently ranked #94. The industry has moved -9.5% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Paylocity and Wesco International as they could maintain their solid performance.