Computer Task Group (CTG) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Computer Task Group (NASDAQ:CTG) from a sell rating to a hold rating in a research note published on Tuesday morning.
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 equities analysts also recently weighed in on the company. Barrington Research set a $9.00 target price on Computer Task Group and gave the company a buy rating in a research report on Monday, July 23rd. ValuEngine downgraded Computer Task Group from a hold rating to a sell rating in a research report on Tuesday, September 4th. Finally, B. Riley set a $10.00 target price on Computer Task Group and gave the company a buy rating in a research report on Friday, October 19th.
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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $90.26 million during the quarter, compared to the consensus estimate of $88.62 million. Computer Task Group had a return on equity of 5.13% and a net margin of 0.62%. On average, sell-side analysts forecast that Computer Task Group will post 0.28 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. grew its position in shares of Computer Task Group by 118.4% during the third quarter. Macquarie Group Ltd. now owns 22,238 shares of the information technology services provider’s stock worth $116,000 after buying an additional 12,058 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Computer Task Group by 6.8% during the third quarter. Acadian Asset Management LLC now owns 257,156 shares of the information technology services provider’s stock worth $1,342,000 after buying an additional 16,476 shares in the last quarter. Algert Global LLC grew its position in shares of Computer Task Group by 10.5% during the third quarter. Algert Global LLC now owns 211,349 shares of the information technology services provider’s stock worth $1,103,000 after buying an additional 20,133 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Computer Task Group by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 988,568 shares of the information technology services provider’s stock worth $5,160,000 after buying an additional 31,957 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Computer Task Group during the first quarter worth about $271,000. 53.53% of the stock is owned by institutional investors and hedge funds.
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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