Computer Task Group (NASDAQ:CTG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, September 20th.
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 “
Other analysts have also recently issued research reports about the company. Barrington Research raised Computer Task Group from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Friday, June 15th. ValuEngine upgraded Computer Task Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.00.
NASDAQ:CTG traded down $0.04 during midday trading on Thursday, hitting $5.22. The stock had a trading volume of 52,090 shares, compared to its average volume of 63,831. Computer Task Group has a one year low of $4.90 and a one year high of $9.62. The stock has a market cap of $75.54 million, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 1.12 and a beta of 0.56. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.09.
Computer Task Group (NASDAQ:CTG) last announced its earnings results on Thursday, July 19th. The information technology services provider reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $88.06 million. Computer Task Group had a return on equity of 4.78% and a net margin of 0.30%. On average, sell-side analysts anticipate that Computer Task Group will post 0.31 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTG. Ancora Advisors LLC grew its position in shares of Computer Task Group by 6.8% during the 1st quarter. Ancora Advisors LLC now owns 207,567 shares of the information technology services provider’s stock valued at $1,700,000 after acquiring an additional 13,218 shares during the period. Yakira Capital Management Inc. acquired a new stake in shares of Computer Task Group during the 1st quarter valued at about $124,000. Millennium Management LLC acquired a new stake in shares of Computer Task Group during the 1st quarter valued at about $271,000. Algert Global LLC grew its position in shares of Computer Task Group by 23.2% during the 2nd quarter. Algert Global LLC now owns 191,216 shares of the information technology services provider’s stock valued at $1,480,000 after acquiring an additional 35,988 shares during the period. Finally, Granahan Investment Management Inc. MA grew its position in shares of Computer Task Group by 15.9% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 302,467 shares of the information technology services provider’s stock valued at $2,341,000 after acquiring an additional 41,384 shares during the period. Institutional investors and hedge funds own 51.04% of the company’s stock.
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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