Computer Task Group, Inc. (NASDAQ:CTG) has earned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Brokers have set a 12-month consensus price target 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 194 out of 265 based on the ratings given to related companies.
CTG has been the topic of several recent analyst reports. Zacks Investment Research upgraded Computer Task Group from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. TheStreet upgraded 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 objective on Computer Task Group and gave the company a “buy” rating in a report on Monday, October 23rd.
Computer Task Group (NASDAQ:CTG) last issued its earnings results 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). Computer Task Group had a return on equity of 4.50% and a net margin of 0.78%. The company had revenue of $74.04 million for the quarter, compared to the consensus estimate of $75.80 million. During the same quarter last year, the business posted $0.04 EPS. Computer Task Group’s quarterly revenue was down 5.2% on a year-over-year basis. sell-side analysts anticipate that Computer Task Group will post 0.22 earnings per share for the current year.
Computer Task Group declared that its board has authorized a stock buyback program on Tuesday, October 24th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several large investors have recently bought and sold shares of CTG. Granahan Investment Management Inc. MA acquired a new position in shares of Computer Task Group during the 3rd quarter worth approximately $611,000. Macquarie Group Ltd. acquired a new position in shares of Computer Task Group during the 3rd quarter worth approximately $483,000. Algert Global LLC increased its position in shares of Computer Task Group by 67.7% during the 3rd quarter. Algert Global LLC now owns 42,243 shares of the information technology services provider’s stock worth $226,000 after purchasing an additional 17,053 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Computer Task Group by 1.9% during the 3rd 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 last quarter. Finally, Vanguard Group Inc. increased its position in shares of Computer Task Group by 0.3% during the 2nd 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 last quarter. 45.69% of the stock is currently owned by hedge funds and other institutional investors.
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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