Zacks Investment Research Lowers Computer Task Group (CTG) to Sell

Computer Task Group (NASDAQ:CTG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “Computer Task Group, Incorporated provides information technology (IT) staffing, IT solutions, and application management outsourcing services in North America and Europe. The company’s staffing services consist of recruiting, retaining, and managing IT talent for its clients. Its IT solutions include helping clients assess their business needs and identifying the IT solutions for these needs, as well as the delivery of services, including the selection and implementation of packaged software, and the design, construction, testing, and integration of new systems. It serves primarily technology service providers, financial services, healthcare, and life sciences market areas.Computer Task Group was founded in 1966 by Randolph A. Marks and G. David Bae. The company is headquartered in Buffalo, New York “

Several other brokerages have also recently issued reports on CTG. ValuEngine cut Computer Task Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. B. Riley set a $10.00 target price on Computer Task Group and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Barrington Research set a $9.00 target price on Computer Task Group and gave the company a “buy” rating in a report on Monday, October 15th.

Shares of CTG traded up $0.02 during trading hours on Monday, hitting $4.33. 37,382 shares of the stock were exchanged, compared to its average volume of 28,815. 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 has a 12-month low of $4.21 and a 12-month high of $9.62. The stock has a market capitalization of $61.55 million, a price-to-earnings ratio of 19.68, a PEG ratio of 1.03 and a beta of 0.57.

Computer Task Group (NASDAQ:CTG) last issued its earnings results on Thursday, October 18th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $90.26 million during the quarter, compared to analysts’ expectations of $88.62 million. Computer Task Group had a return on equity of 5.13% and a net margin of 0.62%. On average, analysts predict that Computer Task Group will post 0.28 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Crescent Grove Advisors LLC lifted its stake in shares of Computer Task Group by 54.0% in the 3rd quarter. Crescent Grove Advisors LLC now owns 106,778 shares of the information technology services provider’s stock valued at $557,000 after purchasing an additional 37,456 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Computer Task Group by 15.7% in the 2nd quarter. Renaissance Technologies LLC now owns 984,300 shares of the information technology services provider’s stock valued at $7,618,000 after purchasing an additional 133,700 shares during the last quarter. Granahan Investment Management Inc. MA lifted its stake in shares of Computer Task Group by 15.9% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 302,467 shares of the information technology services provider’s stock valued at $2,341,000 after purchasing an additional 41,384 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Computer Task Group by 6.8% in the 3rd quarter. Acadian Asset Management LLC now owns 257,156 shares of the information technology services provider’s stock valued at $1,342,000 after purchasing an additional 16,476 shares during the last quarter. Finally, Algert Global LLC lifted its stake in shares of Computer Task Group by 23.2% in the 2nd quarter. Algert Global LLC now owns 191,216 shares of the information technology services provider’s stock valued at $1,480,000 after purchasing an additional 35,988 shares during the last quarter. Institutional investors own 53.53% of the company’s stock.

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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