July 25, 2024

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Inspired by Technology

Is Citrix Systems (CTXS) Outperforming Other Computer and Technology Stocks This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Citrix Systems (CTXS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Citrix Systems is a member of the Computer and Technology sector. This group includes 667 individual stocks and currently holds a Zacks Sector Rank of #11. 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. Citrix Systems is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CTXS’ full-year earnings has moved 3.7% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

According to our latest data, CTXS has moved about 7.6% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 16.9%. This shows that Citrix Systems is outperforming its peers so far this year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Jack Henry (JKHY). The stock has returned 0.5% year-to-date.

For Jack Henry, the consensus EPS estimate for the current year has increased 2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Citrix Systems is a member of the Computer – Software industry, which includes 39 individual companies and currently sits at #159 in the Zacks Industry Rank. This group has lost an average of 18.2% so far this year, so CTXS is performing better in this area.

Jack Henry, however, belongs to the Electronics – Miscellaneous Services industry. Currently, this 3-stock industry is ranked #22. The industry has moved -2.2% so far this year.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Citrix Systems and Jack Henry as they could maintain their solid performance.

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Citrix Systems, Inc. (CTXS) : Free Stock Analysis Report
Jack Henry & Associates, Inc. (JKHY) : Free Stock Analysis Report
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