Computer Task Group, Inc. (NASDAQ:CTG) – Research analysts at Barrington Research increased their FY2018 earnings per share estimates for Computer Task Group in a research report issued on Wednesday. Barrington Research analyst V. Colicchio now expects that the information technology services provider will post earnings of $0.36 per share for the year, up from their previous estimate of $0.25.
Separately, Zacks Investment Research upgraded shares of Computer Task Group from a “sell” rating to a “hold” rating in a report on Thursday, January 4th.
Computer Task Group (NASDAQ:CTG) last released its quarterly earnings data on Tuesday, February 20th. The information technology services provider reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. The company had revenue of $74.60 million during the quarter, compared to the consensus estimate of $73.55 million. Computer Task Group had a net margin of 0.27% and a return on equity of 4.17%. Computer Task Group’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS.
Computer Task Group announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that permits the company to buyback 1,000% of shares. This buyback authorization permits the information technology services provider to reacquire shares of its stock through a dutch auction. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the business. Minerva Advisors LLC increased its holdings in shares of Computer Task Group by 4.8% during the 4th quarter. Minerva Advisors LLC now owns 1,113,211 shares of the information technology services provider’s stock worth $5,678,000 after buying an additional 50,770 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Computer Task Group during the 3rd quarter worth approximately $483,000. Dimensional Fund Advisors LP increased its holdings in shares of Computer Task Group by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 761,652 shares of the information technology services provider’s stock worth $4,258,000 after buying an additional 7,570 shares during the last quarter. Algert Global LLC increased its holdings in shares of Computer Task Group by 249.2% during the 4th quarter. Algert Global LLC now owns 147,517 shares of the information technology services provider’s stock worth $752,000 after buying an additional 105,274 shares during the last quarter. Finally, Granahan Investment Management Inc. MA acquired a new stake in shares of Computer Task Group during the 3rd quarter worth approximately $611,000. Institutional investors own 45.74% of the company’s stock.
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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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