Zacks: Computer Task Group, Inc. (CTG) Given $8.00 Consensus Target Price by Brokerages

Computer Task Group, Inc. (NASDAQ:CTG) has been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 1-year consensus price target of $8.00 for the company and are anticipating that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also given Computer Task Group an industry rank of 111 out of 265 based on the ratings given to related companies.

A number of equities research analysts have issued reports on CTG shares. Zacks Investment Research cut shares of Computer Task Group from a “hold” rating to a “sell” rating in a report on Friday, October 27th. TheStreet upgraded shares of Computer Task Group from a “d+” rating to a “c” rating in a report on Tuesday, October 24th. Finally, B. Riley set a $9.00 price target on shares of Computer Task Group and gave the company a “buy” rating in a report on Monday, October 23rd.

A number of hedge funds have recently added to or reduced their stakes in CTG. Goldman Sachs Group Inc. boosted its holdings in Computer Task Group by 93.4% during the first quarter. Goldman Sachs Group Inc. now owns 80,160 shares of the information technology services provider’s stock valued at $442,000 after acquiring an additional 38,719 shares during the period. Balter Liquid Alternatives LLC bought a new stake in Computer Task Group during the second quarter valued at about $117,000. Wells Fargo & Company MN boosted its holdings in Computer Task Group by 13.3% during the second quarter. Wells Fargo & Company MN now owns 17,785 shares of the information technology services provider’s stock valued at $100,000 after acquiring an additional 2,092 shares during the period. Northern Trust Corp boosted its holdings in Computer Task Group by 4.2% during the second quarter. Northern Trust Corp now owns 55,589 shares of the information technology services provider’s stock valued at $311,000 after acquiring an additional 2,247 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Computer Task Group by 0.3% during the second quarter. Vanguard Group Inc. now owns 808,976 shares of the information technology services provider’s stock valued at $4,522,000 after acquiring an additional 2,400 shares during the period. Institutional investors own 45.69% of the company’s stock.

Shares of Computer Task Group (NASDAQ:CTG) opened at $5.12 on Tuesday. The stock has a market cap of $77.46, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.27 and a beta of 1.23. Computer Task Group has a fifty-two week low of $4.14 and a fifty-two week high of $6.33.

Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings data on Tuesday, October 24th. The information technology services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $74.04 million during the quarter, compared to the consensus estimate of $75.80 million. Computer Task Group had a return on equity of 4.50% and a net margin of 0.78%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 earnings per share. equities analysts expect that Computer Task Group will post 0.22 EPS for the current fiscal year.

Computer Task Group announced that its board has initiated a share buyback plan on Tuesday, October 24th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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About Computer Task Group

Computer Task Group, Incorporated (CTG) is an information technology (IT) solutions and staffing services company. The Company primarily operates in the segment of providing IT services to its clients. The Company has operations in North America and Europe. The Company is engaged in providing IT services, including IT Solutions, and IT and other Staffing.

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