Zacks Investment Research upgraded shares of Computer Task Group (NASDAQ:CTG) from a sell rating to a hold rating in a report issued on Wednesday, September 5th.
According to Zacks, “Computer Task Group, Incorporated provides information technology (IT) staffing, IT solutions, and application management outsourcing services in North America and Europe. The company’s staffing services consist of recruiting, retaining, and managing IT talent for its clients. Its IT solutions include helping clients assess their business needs and identifying the IT solutions for these needs, as well as the delivery of services, including the selection and implementation of packaged software, and the design, construction, testing, and integration of new systems. It serves primarily technology service providers, financial services, healthcare, and life sciences market areas.Computer Task Group was founded in 1966 by Randolph A. Marks and G. David Bae. The company is headquartered in Buffalo, New York “
Several other research analysts have also issued reports on the stock. Barrington Research upgraded shares of Computer Task Group from a market perform rating to an outperform rating and set a $9.00 price target on the stock in a research report on Friday, June 15th. ValuEngine upgraded shares of Computer Task Group from a hold rating to a buy rating in a research report on Monday, July 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $9.00.
CTG opened at $5.44 on Wednesday. The company has a market cap of $80.17 million, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.50. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. Computer Task Group has a twelve month low of $4.90 and a twelve month high of $9.62.
Computer Task Group (NASDAQ:CTG) last posted its quarterly earnings data on Thursday, July 19th. The information technology services provider reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $88.06 million. Computer Task Group had a net margin of 0.30% and a return on equity of 4.78%. analysts anticipate that Computer Task Group will post 0.31 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Yakira Capital Management Inc. acquired a new position in Computer Task Group during the 1st quarter worth $124,000. Marathon Trading Investment Management LLC bought a new position in shares of Computer Task Group during the 1st quarter worth about $139,000. Millennium Management LLC bought a new position in shares of Computer Task Group during the 1st quarter worth about $271,000. Bailard Inc. bought a new position in shares of Computer Task Group during the 1st quarter worth about $272,000. Finally, Deutsche Bank AG increased its holdings in shares of Computer Task Group by 35.6% during the 4th quarter. Deutsche Bank AG now owns 61,402 shares of the information technology services provider’s stock worth $313,000 after purchasing an additional 16,120 shares during the period. 51.08% of the stock is owned by institutional investors and hedge funds.
Computer Task Group Company Profile
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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