Computer Task Group, Inc. (NASDAQ:CTG) – Equities researchers at Barrington Research lifted their Q2 2018 EPS estimates for Computer Task Group in a report released on Wednesday. Barrington Research analyst V. Colicchio now anticipates that the information technology services provider will post earnings of $0.10 per share for the quarter, up from their prior estimate of $0.06. Barrington Research also issued estimates for Computer Task Group’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.14 EPS and FY2019 earnings at $0.40 EPS.
Separately, Zacks Investment Research raised Computer Task Group from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.
Shares of Computer Task Group (CTG) traded up $0.20 during trading hours on Thursday, hitting $6.65. The company had a trading volume of 147,000 shares, compared to its average volume of 51,893. The firm has a market cap of $99.92, a P/E ratio of 133.00, a price-to-earnings-growth ratio of 1.79 and a beta of 1.19. Computer Task Group has a 1 year low of $4.90 and a 1 year high of $7.02.
Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings data on Tuesday, February 20th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $74.60 million during the quarter, compared to the consensus estimate of $73.55 million. Computer Task Group had a return on equity of 4.17% and a net margin of 0.27%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS.
Computer Task Group declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to buyback 1,000% of shares. This buyback authorization permits the information technology services provider to repurchase shares of its stock through a dutch auction. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently modified their holdings of the stock. Minerva Advisors LLC increased its position in shares of Computer Task Group by 4.8% during the 4th quarter. Minerva Advisors LLC now owns 1,113,211 shares of the information technology services provider’s stock worth $5,678,000 after purchasing an additional 50,770 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Computer Task Group during the 3rd quarter worth about $483,000. Dimensional Fund Advisors LP boosted its holdings in Computer Task Group by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 761,652 shares of the information technology services provider’s stock valued at $4,258,000 after acquiring an additional 7,570 shares during the period. Granahan Investment Management Inc. MA purchased a new position in Computer Task Group during the 3rd quarter valued at about $611,000. Finally, Vanguard Group Inc. boosted its holdings in Computer Task Group by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 808,976 shares of the information technology services provider’s stock valued at $4,522,000 after acquiring an additional 2,400 shares during the period. 45.74% of the stock is owned by hedge funds and other institutional investors.
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Computer Task Group Company Profile
Computer Task Group, Incorporated (CTG) is an information technology (IT) solutions and staffing services company. The Company primarily operates in the segment of providing IT services to its clients. The Company has operations in North America and Europe. The Company is engaged in providing IT services, including IT Solutions, and IT and other Staffing.
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