Computer Task Group (NASDAQ:CTG) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Computer Task Group (NASDAQ:CTGGet Rating) in a report issued on Wednesday. The firm issued a buy rating on the information technology services provider’s stock.

Separately, Zacks Investment Research cut shares of Computer Task Group from a hold rating to a sell rating in a report on Thursday, March 10th.

NASDAQ:CTG opened at $9.35 on Wednesday. The stock has a market cap of $143.44 million, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74. The firm’s fifty day simple moving average is $9.38 and its 200 day simple moving average is $8.85. Computer Task Group has a twelve month low of $6.77 and a twelve month high of $10.95.

Computer Task Group (NASDAQ:CTGGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The information technology services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.08. The business had revenue of $112.39 million for the quarter, compared to analysts’ expectations of $112.66 million. Computer Task Group had a net margin of 3.50% and a return on equity of 11.20%. During the same quarter in the previous year, the business posted $0.14 earnings per share. Analysts predict that Computer Task Group will post 0.69 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Knightsbridge Asset Management LLC boosted its holdings in shares of Computer Task Group by 6.0% during the 3rd quarter. Knightsbridge Asset Management LLC now owns 30,110 shares of the information technology services provider’s stock valued at $240,000 after buying an additional 1,710 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Computer Task Group by 15.0% during the 2nd quarter. Millennium Management LLC now owns 13,655 shares of the information technology services provider’s stock valued at $132,000 after buying an additional 1,779 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Computer Task Group by 0.6% during the 4th quarter. BlackRock Inc. now owns 283,494 shares of the information technology services provider’s stock valued at $2,826,000 after buying an additional 1,827 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Computer Task Group by 15.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,735 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 1,839 shares in the last quarter. Finally, Fosun International Ltd boosted its holdings in shares of Computer Task Group by 3.6% during the 4th quarter. Fosun International Ltd now owns 56,837 shares of the information technology services provider’s stock valued at $544,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 53.52% of the company’s stock.

About Computer Task Group (Get Rating)

Computer Task Group, Incorporated, together with its subsidiaries, offers information and technology services in North America, South America, Western Europe, and India. It operates through three segments: North America IT Solutions and Services, Europe IT Solutions and Services, and Non-Strategic Technology Services.

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