Computer Task Group (CTG) Rating Increased 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 report report published on Thursday.
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 “
A number of other research analysts have also weighed in on the stock. ValuEngine lowered shares of Computer Task Group from a hold rating to a sell rating in a report on Tuesday, September 4th. Barrington Research set a $9.00 target price on shares of Computer Task Group and gave the company a buy rating in a report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $9.00.
Computer Task Group (NASDAQ:CTG) last posted its earnings results on Thursday, July 19th. The information technology services provider reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. Computer Task Group had a net margin of 0.30% and a return on equity of 4.78%. The firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $88.06 million. analysts predict that Computer Task Group will post 0.31 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Granahan Investment Management Inc. MA lifted its position in Computer Task Group by 15.9% in the second quarter. Granahan Investment Management Inc. MA now owns 302,467 shares of the information technology services provider’s stock worth $2,341,000 after buying an additional 41,384 shares during the last quarter. Cove Street Capital LLC bought a new stake in Computer Task Group in the second quarter worth $604,000. Renaissance Technologies LLC lifted its position in Computer Task Group by 15.7% in the second quarter. Renaissance Technologies LLC now owns 984,300 shares of the information technology services provider’s stock worth $7,618,000 after buying an additional 133,700 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Computer Task Group by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 956,611 shares of the information technology services provider’s stock worth $7,404,000 after buying an additional 114,374 shares during the last quarter. Finally, Algert Global LLC lifted its position in Computer Task Group by 23.2% in the second quarter. Algert Global LLC now owns 191,216 shares of the information technology services provider’s stock worth $1,480,000 after buying an additional 35,988 shares during the last quarter. Institutional investors own 51.04% of the company’s stock.
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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