Yahoo Finance Is Paymentus (PAY) Stock Outpacing Its Business Services Peers This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Paymentus (PAY) 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 Business Services sector should help us answer this question.
Paymentus is one of 314 individual stocks in the Business Services sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Paymentus is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PAY's full-year earnings has moved 27.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PAY has returned 19.8% so far this year. Meanwhile, the Business Services sector has returned an average of 9.2% on a year-to-date basis. This means that Paymentus is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is Parsons (PSN). The stock is up 28.3% year-to-date.
The consensus estimate for Parsons' current year EPS has increased 3.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Paymentus belongs to the Technology Services industry, a group that includes 172 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, this group has gained an average of 16.2% so far this year, meaning that PAY is performing better in terms of year-to-date returns. Parsons is also part of the same industry.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Paymentus and Parsons as they could maintain their solid performance.
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Paymentus Holdings, Inc. (PAY) : Free Stock Analysis Report
Parsons Corporation (PSN) : Free Stock Analysis Report
