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

Computer Task Group (NASDAQ:CTG – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $0.64-$0.72 for the period, compared to the consensus EPS 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.

CTG opened at $8.35 on Tuesday. Computer Task Group has a fifty-two week low of $6.77 and a fifty-two week high of $10.40. The company has a fifty day moving average of $9.35 and a two-hundred day moving average of $8.98. The stock has a market capitalization of $128.10 million, a price-to-earnings ratio of 8.70, a PEG ratio of 0.61 and a beta of 0.72.

Computer Task Group (NASDAQ:CTG – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The information technology services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Computer Task Group had a net margin of 3.76% and a return on equity of 11.26%. During the same period in the previous year, the business earned $0.13 earnings per share. On average, analysts predict that Computer Task Group will post 0.69 earnings per share for the current year.

A number of research firms have recently commented on CTG. Zacks Investment Research cut shares of Computer Task Group from a hold rating to a sell rating in a research note on Thursday, March 10th. StockNews.com began coverage on shares of Computer Task Group in a research report on Saturday. They set a strong-buy rating on the stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CTG. State Street Corp boosted its holdings in Computer Task Group by 2.8% in the 1st quarter. State Street Corp now owns 58,271 shares of the information technology services provider’s stock valued at $569,000 after purchasing an additional 1,586 shares during the last quarter. Millennium Management LLC boosted its holdings in Computer Task Group by 15.0% in the 2nd quarter. Millennium Management LLC now owns 13,655 shares of the information technology services provider’s stock valued at $132,000 after purchasing an additional 1,779 shares during the last quarter. BlackRock Inc. boosted its holdings in Computer Task Group by 0.6% in the 4th quarter. BlackRock Inc. now owns 283,494 shares of the information technology services provider’s stock valued at $2,826,000 after purchasing an additional 1,827 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Computer Task Group by 7.0% in the 2nd quarter. Morgan Stanley now owns 33,300 shares of the information technology services provider’s stock worth $322,000 after acquiring an additional 2,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Computer Task Group by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 964,872 shares of the information technology services provider’s stock worth $9,427,000 after acquiring an additional 9,413 shares during the last quarter. 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.

Featured Stories