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

Computer Task Group (NASDAQ:CTGGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.53-$0.63 for the period, compared to the consensus estimate of $0.68. The company issued revenue guidance of $330.00 million-$350.00 million, compared to the consensus revenue estimate of $356.83 million. Computer Task Group also updated its FY 2022 guidance to $0.53-$0.63 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Computer Task Group in a report on Thursday. They issued a strong-buy rating on the stock.

Computer Task Group Trading Down 1.8 %

Shares of CTG traded down $0.16 during midday trading on Thursday, reaching $8.59. The stock had a trading volume of 42,839 shares, compared to its average volume of 24,452. The firm has a 50 day simple moving average of $8.67 and a 200-day simple moving average of $8.91. Computer Task Group has a one year low of $6.77 and a one year high of $10.38. The firm has a market cap of $131.78 million, a PE ratio of 8.95, a P/E/G ratio of 0.64 and a beta of 0.68.

Computer Task Group (NASDAQ:CTGGet Rating) last announced its earnings results on Tuesday, May 10th. The information technology services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $89.42 million during the quarter, compared to the consensus estimate of $93.63 million. Computer Task Group had a net margin of 3.76% and a return on equity of 11.26%. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, research analysts forecast that Computer Task Group will post 0.68 EPS for the current fiscal year.

Institutional Trading of Computer Task Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its position in shares of 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 buying an additional 1,586 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $9,427,000 after buying an additional 9,413 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Computer Task Group by 27.3% in the 1st quarter. Vanguard Group Inc. now owns 846,388 shares of the information technology services provider’s stock valued at $8,269,000 after buying an additional 181,316 shares in the last quarter. Institutional investors and hedge funds own 53.00% of the company’s stock.

About Computer Task Group

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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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Earnings History and Estimates for Computer Task Group (NASDAQ:CTG)

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