Computer Task Group (NASDAQ:CTG) Updates FY 2022 Earnings Guidance

Computer Task Group (NASDAQ:CTGGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.64-$0.72 for the period, compared to the consensus earnings per share estimate of $0.69. The company issued revenue guidance of $360.00 million-$380.00 million, compared to the consensus revenue estimate of $384.84 million.

Shares of Computer Task Group stock traded down $0.02 on Tuesday, reaching $8.62. 100 shares of the company were exchanged, compared to its average volume of 28,492. Computer Task Group has a one year low of $6.77 and a one year high of $10.40. The company has a market capitalization of $132.24 million, a price-to-earnings ratio of 9.49, a PEG ratio of 0.66 and a beta of 0.72. The company has a 50-day moving average of $9.45 and a 200 day moving average of $8.94.

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

CTG has been the topic of a number of research analyst reports. Zacks Investment Research cut Computer Task Group from a hold rating to a sell rating in a research note on Thursday, March 10th. StockNews.com started coverage on Computer Task Group in a research report on Thursday, May 5th. They set a buy rating on the stock.

A number of hedge funds have recently bought and sold shares of CTG. Millennium Management LLC grew 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 worth $132,000 after purchasing an additional 1,779 shares in the last quarter. BlackRock Inc. grew 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 worth $2,826,000 after purchasing an additional 1,827 shares in the last quarter. Morgan Stanley grew its holdings in shares of Computer Task Group by 7.0% during the 2nd quarter. Morgan Stanley now owns 33,300 shares of the information technology services provider’s stock worth $322,000 after purchasing an additional 2,178 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Computer Task Group during the 3rd quarter worth $80,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Computer Task Group during the 2nd quarter worth $286,000. Hedge funds and other institutional investors own 53.00% of the company’s stock.

Computer Task Group Company Profile (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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