Shares of Computer Task Group, Inc. (NASDAQ:CTG) have been assigned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Analysts have set a one year consensus target price of $8.00 for the company and are predicting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned Computer Task Group an industry rank of 107 out of 265 based on the ratings given to its competitors.
A number of research firms have recently issued reports on CTG. Zacks Investment Research cut Computer Task Group from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. TheStreet raised Computer Task Group from a “d+” rating to a “c” rating in a research report on Tuesday, October 24th. Finally, B. Riley set a $9.00 price objective on Computer Task Group and gave the company a “buy” rating in a research report on Monday, October 23rd.
Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings results on Tuesday, October 24th. The information technology services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Computer Task Group had a net margin of 0.78% and a return on equity of 4.50%. The company had revenue of $74.04 million for the quarter, compared to analyst estimates of $75.80 million. During the same period last year, the company posted $0.04 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. equities analysts forecast that Computer Task Group will post 0.22 earnings per share for the current year.
Computer Task Group announced that its board has initiated a share buyback plan on Tuesday, October 24th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of 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 worth $4,522,000 after purchasing an additional 2,400 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Computer Task Group by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 775,776 shares of the information technology services provider’s stock worth $4,158,000 after purchasing an additional 14,124 shares during the period. Granahan Investment Management Inc. MA bought a new position in shares of Computer Task Group during the third quarter worth approximately $611,000. Macquarie Group Ltd. bought a new position in shares of Computer Task Group during the third quarter worth approximately $483,000. Finally, Northern Trust Corp increased its stake in shares of 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 worth $311,000 after purchasing an additional 2,247 shares during the period. 45.69% of the stock is owned by institutional investors.
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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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