As Q1 earnings take center stage, Technology is likely to come into the limelight with major Software companies scheduled to report earnings this week.The earnings scenario for the overall Technology sector remains gloomy with the Zacks Earnings Trend predicting a 6.7% year-over-year decline in the quarter. However, we expect the Software industry to surpass estimates, mirroring the performance of the preceding two quarters, wherein it registered year-over-year earnings growth of 9.7% and 7.6%.Among the companies slated to report this week, let’s see what’s in store for these three major Software stocks, each of which is scheduled to release its first-quarter numbers on Wednesday, Apr 20.F5 Networks Inc. FFIV, a leading provider of integrated Internet traffic and content management solutions, will report second-quarter fiscal 2016 results. For the quarter, F5 Networks has an Earnings ESP of 1.58% and a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for the quarter is pegged at $1.27.Last quarter, the company posted a positive earnings surprise of 3.94%. Moreover, it surpassed estimates on two occasions in the past four quarters, with an average surprise of 1.77%. The company’s GBB pricing strategy, along with its BIG-IQ platform, are expected to continue providing tailwinds. Revenue growth should remain steady and be driven by strength across all of its business segments in the to-be-reported quarter. Further, we believe that the company’s product refreshes will boost revenues in the quarter. Moreover, strategic initiatives are predicted to expand the company’s total addressable market and result in client wins. (Read more:F5 Networks Q2 Earnings: Stock Likely to Beat Estimates?)Check Point Software Technologies Ltd. CHKP, a leading provider of policy-based enterprise security and traffic management solutions, is slated to report first-quarter 2016 results before the market opens. With Zacks Consensus Estimate pegged at 93 cents, the company has an Earnings ESP of 0.00% and Zacks Rank #3 (Hold).Last quarter, the company recorded a positive earnings surprise of 5.77%. Notably, Check Point outperformed the Zacks Consensus Estimate in all of the trailing four quarters, with an average positive surprise of 4.61%.Rapid adoption of Check Point’s data center appliances and continuous enhancements in data center product lines are expected to provide adequate support to revenue growth. However, an uncertain macroeconomic environment, dismal IT spending and currency headwinds remain concerns. (Read more: Can Check Point Keep the Earnings Streak Alive?)Citrix Systems Inc. CTXS – a leading global provider of virtualization, networking and cloud computing solutions – expects to report its first-quarter 2016 results after the closing bell. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate is pegged at 74 cents.Last quarter, Citrix Systems posted a positive earnings surprise of 46.00%. In fact, this software company has a healthy track record with respect to earnings, having delivered positive surprises in each of the last four quarters, with an average beat of 30.66%. The company’s first-quarter results are, however, anticipated to be hurt by adverse foreign currency exchange rates. Nevertheless, its consistent efforts on the introduction of new products should somewhat boost its top-line performance. (Read more: Citrix Systems Q1 Earnings: Can the Stock Surprise?)Stay tuned! Check later on our full write-up on earnings releases of these stocks.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report F5 NETWORKS INC (FFIV): Free Stock Analysis Report CHECK PT SOFTW (CHKP): Free Stock Analysis Report CITRIX SYS INC (CTXS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research