Computer Task Group (NASDAQ:CTG) Issues FY 2021 Earnings Guidance

Computer Task Group (NASDAQ:CTG) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of $0.550-$0.570 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.530. The company issued revenue guidance of $390 million-$395 million, compared to the consensus revenue estimate of $381.81 million.Computer Task Group also updated its Q4 2021 guidance to $0.160-$0.180 EPS.

CTG traded up $0.09 on Thursday, reaching $8.09. 8,285 shares of the company’s stock were exchanged, compared to its average volume of 48,557. Computer Task Group has a twelve month low of $6.04 and a twelve month high of $11.68. The company’s 50 day moving average is $8.11 and its 200-day moving average is $8.88. The company has a market cap of $124.12 million, a price-to-earnings ratio of 17.59, a PEG ratio of 0.77 and a beta of 0.70.

Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings results on Tuesday, November 9th. The information technology services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Computer Task Group had a return on equity of 9.67% and a net margin of 1.81%. During the same quarter last year, the business earned $0.18 EPS. As a group, equities research analysts forecast that Computer Task Group will post 0.56 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised Computer Task Group from a sell rating to a hold rating in a research note on Thursday, November 11th.

In related news, Director James R. Helvey III purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The shares were acquired at an average price of $8.90 per share, with a total value of $44,500.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 12.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC acquired a new position in shares of Computer Task Group during the third quarter valued at $80,000. Millennium Management LLC lifted its stake in shares of Computer Task Group by 16.9% during the third quarter. Millennium Management LLC now owns 15,959 shares of the information technology services provider’s stock valued at $127,000 after acquiring an additional 2,304 shares during the period. Morgan Stanley lifted its stake in shares of Computer Task Group by 7.0% during the second quarter. Morgan Stanley now owns 33,300 shares of the information technology services provider’s stock valued at $322,000 after acquiring an additional 2,178 shares during the period. Finally, Citadel Advisors LLC bought a new stake in Computer Task Group in the second quarter valued at about $286,000. 52.77% of the stock is currently owned by institutional investors and hedge funds.

Computer Task Group Company Profile

Computer Task Group, Inc engages in the provision of information technology solutions and staffing services. The firm’s services encompass the information technology business solution life cycle, including phases for planning, developing, implementing, managing, and maintaining the information technology solution.

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