Goldman Sachs Group Inc. lowered its stake in shares of Computer Task Group, Incorporated (NASDAQ:CTG) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,466 shares of the information technology services provider’s stock after selling 2,694 shares during the period. Goldman Sachs Group Inc. owned 0.49% of Computer Task Group, worth $433,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CTG. Wells Fargo & Company MN increased its holdings in shares of Computer Task Group, by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 17,785 shares of the information technology services provider’s stock worth $100,000 after acquiring an additional 2,092 shares during the last quarter. Balter Liquid Alternatives LLC acquired a new position in shares of Computer Task Group, during the 2nd quarter worth approximately $117,000. JPMorgan Chase & Co. grew its holdings in Computer Task Group, by 21.8% in the 1st quarter. JPMorgan Chase & Co. now owns 23,827 shares of the information technology services provider’s stock valued at $132,000 after buying an additional 4,262 shares in the last quarter. Algert Global LLC acquired a new position in Computer Task Group, in the 2nd quarter valued at $141,000. Finally, Crescent Grove Advisors LLC acquired a new position in Computer Task Group, in the 2nd quarter valued at $192,000. Institutional investors own 46.66% of the company’s stock.

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A number of brokerages have commented on CTG. B. Riley reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Computer Task Group, in a report on Friday, July 28th. Zacks Investment Research lowered Computer Task Group, from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Finally, TheStreet raised Computer Task Group, from a “d+” rating to a “c” rating in a report on Tuesday, October 24th.

Shares of Computer Task Group, Incorporated (NASDAQ:CTG) opened at $5.10 on Wednesday. The stock has a market capitalization of $78.23, a price-to-earnings ratio of 21.96, a PEG ratio of 2.30 and a beta of 1.22. Computer Task Group, Incorporated has a 1-year low of $4.00 and a 1-year high of $6.33.

Computer Task Group, (NASDAQ:CTG) last released its earnings results on Tuesday, October 24th. The information technology services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $74.04 million for the quarter, compared to analyst estimates of $75.80 million. Computer Task Group, had a return on equity of 4.50% and a net margin of 0.78%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. equities research analysts anticipate that Computer Task Group, Incorporated will post 0.22 EPS for the current year.

Computer Task Group, announced that its board has initiated a stock repurchase program on Tuesday, October 24th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

About Computer Task Group,

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.

Institutional Ownership by Quarter for Computer Task Group, (NASDAQ:CTG)

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