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? Let’s take a closer look at the stock’s year-to-date performance to find out.
Pegasystems is a member of our Computer and Technology group, which includes 602 different companies and currently sits at #8 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 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).
Over the past three months, the Zacks Consensus Estimate for PEGA’s full-year earnings has moved 15.18% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, PEGA has gained about 52.44% so far this year. In comparison, Computer and Technology companies have returned an average of 22.06%. 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 #63 in the Zacks Industry Rank. Stocks in this group have gained about 29.61% so far this year, so PEGA 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 PEGA. 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.