Computer Task Group, Inc. (NASDAQ:CTG) – Research analysts at Barrington Research lifted their FY2019 earnings per share (EPS) estimates for Computer Task Group in a report issued on Thursday, October 24th. Barrington Research analyst V. Colicchio now anticipates that the information technology services provider will post earnings per share of $0.36 for the year, up from their previous forecast of $0.35.
A number of other brokerages also recently weighed in on CTG. ValuEngine downgraded shares of Computer Task Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Zacks Investment Research raised shares of Computer Task Group from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $7.00.
Shares of NASDAQ:CTG opened at $5.46 on Monday. The company’s 50-day moving average is $4.99 and its 200 day moving average is $4.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market capitalization of $75.54 million, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.43. Computer Task Group has a fifty-two week low of $3.85 and a fifty-two week high of $5.82.
Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings results on Tuesday, October 22nd. The information technology services provider reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The company had revenue of $97.20 million for the quarter, compared to the consensus estimate of $98.50 million. Computer Task Group had a negative net margin of 0.72% and a positive return on equity of 6.32%.
Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in Computer Task Group by 7.4% in the 2nd quarter. Acadian Asset Management LLC now owns 273,429 shares of the information technology services provider’s stock valued at $1,096,000 after acquiring an additional 18,944 shares during the period. BlackRock Inc. raised its stake in Computer Task Group by 12.1% in the 2nd quarter. BlackRock Inc. now owns 432,770 shares of the information technology services provider’s stock valued at $1,735,000 after acquiring an additional 46,866 shares during the period. Renaissance Technologies LLC raised its stake in Computer Task Group by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 958,360 shares of the information technology services provider’s stock valued at $3,843,000 after acquiring an additional 36,597 shares during the period. Citadel Advisors LLC bought a new stake in Computer Task Group in the 2nd quarter valued at about $56,000. Finally, Courier Capital LLC bought a new stake in Computer Task Group in the 2nd quarter valued at about $59,000. Institutional investors and hedge funds own 48.66% of the company’s stock.
About Computer Task Group
Computer Task Group, Incorporated, together with its subsidiaries, operates as an information technology solutions and staffing services company in North America, Europe, and India. Its IT solutions include the implementation and optimization of packaged software applications; development and deployment of customized software and solutions designed to fit the needs of a specific client or market; and design and distribution of complex technology components, as well as offers consulting services.
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