Zacks Investment Research upgraded shares of Computer Task Group (NASDAQ:CTG) from a hold rating to a buy rating in a report published on Monday morning, Zacks.com reports. Zacks Investment Research currently has $5.50 target price on the information technology services provider’s stock.
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 “
Separately, ValuEngine upgraded Computer Task Group from a sell rating to a hold rating in a report on Friday, August 23rd. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $6.83.
Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings results on Tuesday, July 23rd. The information technology services provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. Computer Task Group had a positive return on equity of 5.48% and a negative net margin of 0.66%. The firm had revenue of $100.41 million during the quarter, compared to the consensus estimate of $100.31 million. Analysts anticipate that Computer Task Group will post 0.35 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of Computer Task Group by 7.4% during the 2nd quarter. Acadian Asset Management LLC now owns 273,429 shares of the information technology services provider’s stock worth $1,096,000 after purchasing an additional 18,944 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Computer Task Group by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 958,360 shares of the information technology services provider’s stock worth $3,843,000 after purchasing an additional 36,597 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Computer Task Group during the 2nd quarter worth about $56,000. Courier Capital LLC bought a new position in shares of Computer Task Group during the 2nd quarter worth about $59,000. Finally, BlackRock Inc. boosted its position in shares of Computer Task Group by 12.1% during the 2nd quarter. BlackRock Inc. now owns 432,770 shares of the information technology services provider’s stock worth $1,735,000 after purchasing an additional 46,866 shares in the last quarter. 48.66% of the stock is currently owned by institutional investors.
About Computer Task Group
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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