Vanguard Group Inc. Purchases 2,400 Shares of Computer Task Group, Inc. (CTG)
Vanguard Group Inc. lifted its position in shares of Computer Task Group, Inc. (NASDAQ:CTG) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 808,976 shares of the information technology services provider’s stock after buying an additional 2,400 shares during the period. Vanguard Group Inc. owned about 5.15% of Computer Task Group worth $4,522,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of CTG. Wells Fargo & Company MN boosted its position in Computer Task Group by 13.3% during the second quarter. Wells Fargo & Company MN now owns 17,785 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 2,092 shares during the last quarter. Balter Liquid Alternatives LLC acquired a new position in Computer Task Group during the second quarter valued at approximately $117,000. JPMorgan Chase & Co. boosted its position in Computer Task Group by 21.8% during the first quarter. JPMorgan Chase & Co. now owns 23,827 shares of the information technology services provider’s stock valued at $132,000 after purchasing an additional 4,262 shares during the last quarter. Algert Global LLC acquired a new position in Computer Task Group during the second quarter valued at approximately $141,000. Finally, Crescent Grove Advisors LLC acquired a new position in Computer Task Group during the second quarter valued at approximately $192,000. 45.69% of the stock is owned by institutional investors.
Shares of Computer Task Group, Inc. (NASDAQ CTG) opened at $5.24 on Friday. The stock has a market capitalization of $80.40, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 2.36 and a beta of 1.23. Computer Task Group, Inc. has a 52 week low of $4.14 and a 52 week high of $6.33.
Computer Task Group (NASDAQ:CTG) last released its quarterly earnings data 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 business had revenue of $74.04 million during the quarter, compared to the consensus estimate of $75.80 million. Computer Task Group had a net margin of 0.78% and a return on equity of 4.50%. Computer Task Group’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. equities analysts forecast that Computer Task Group, Inc. will post 0.22 earnings per share for the current fiscal year.
Computer Task Group announced that its board has initiated a stock repurchase plan on Tuesday, October 24th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts recently commented on CTG shares. Zacks Investment Research cut Computer Task Group from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. B. Riley set a $9.00 price target on Computer Task Group and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, TheStreet raised Computer Task Group from a “d+” rating to a “c” rating in a research report on Tuesday, October 24th.
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Computer Task Group Company Profile
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.
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