Zacks: Computer Task Group, Inc. (CTG) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Computer Task Group, Inc. (NASDAQ:CTG) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus target price of $9.25 for the company and are expecting that the company will post $0.08 EPS for the current quarter, according to Zacks. Zacks has also given Computer Task Group an industry rank of 91 out of 257 based on the ratings given to its competitors.

CTG has been the topic of several research reports. Zacks Investment Research upgraded Computer Task Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. B. Riley set a $10.00 price target on Computer Task Group and gave the company a “buy” rating in a research report on Friday, October 19th. ValuEngine lowered Computer Task Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Barrington Research set a $9.00 price target on Computer Task Group and gave the company a “buy” rating in a research report on Monday, October 15th.

A number of large investors have recently made changes to their positions in CTG. JPMorgan Chase & Co. raised its stake in Computer Task Group by 9,347.0% during the first quarter. JPMorgan Chase & Co. now owns 111,852 shares of the information technology services provider’s stock valued at $916,000 after buying an additional 110,668 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Computer Task Group by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 842,237 shares of the information technology services provider’s stock valued at $6,898,000 after buying an additional 47,670 shares during the last quarter. Millennium Management LLC purchased a new position in Computer Task Group during the first quarter valued at $271,000. Acadian Asset Management LLC raised its stake in Computer Task Group by 71.5% during the second quarter. Acadian Asset Management LLC now owns 240,680 shares of the information technology services provider’s stock valued at $1,863,000 after buying an additional 100,325 shares during the last quarter. Finally, Algert Global LLC raised its stake in Computer Task Group by 23.2% during the second quarter. Algert Global LLC now owns 191,216 shares of the information technology services provider’s stock valued at $1,480,000 after buying an additional 35,988 shares during the last quarter. Institutional investors and hedge funds own 51.03% of the company’s stock.

Shares of CTG stock traded up $0.02 during trading hours on Friday, reaching $4.51. The company’s stock had a trading volume of 4,409 shares, compared to its average volume of 59,349. The firm has a market cap of $67.12 million, a P/E ratio of 20.50, a P/E/G ratio of 1.12 and a beta of 0.57. Computer Task Group has a one year low of $4.37 and a one year high of $9.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.16 and a current ratio of 2.16.

Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings data on Thursday, October 18th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $90.26 million for the quarter, compared to analyst estimates of $88.62 million. Computer Task Group had a return on equity of 5.13% and a net margin of 0.62%. As a group, equities analysts predict that Computer Task Group will post 0.28 EPS for the current year.

Computer Task Group Company Profile

Computer Task Group, Incorporated, together with its subsidiaries, operates as an information technology solutions and staffing services company in North America, Europe, and India. Its IT solutions include the implementation and optimization of packaged software applications; development and deployment of customized software and solutions designed to fit the needs of a specific client or market; and design and distribution of complex technology components, as well as offers consulting services.

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