Computer Task Group, Inc. (CTG) Given $9.25 Consensus Price Target by Analysts

Shares of Computer Task Group, Inc. (NASDAQ:CTG) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus target price of $9.25 for the company and are forecasting that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Computer Task Group an industry rank of 70 out of 256 based on the ratings given to its competitors.

Several analysts have recently weighed in on the stock. ValuEngine upgraded shares of Computer Task Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Barrington Research reiterated a “buy” rating and set a $9.00 target price on shares of Computer Task Group in a research report on Friday, January 4th. Finally, Zacks Investment Research upgraded shares of Computer Task Group from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th.

A number of hedge funds have recently made changes to their positions in CTG. Macquarie Group Ltd. lifted its holdings in Computer Task Group by 118.4% during the 3rd quarter. Macquarie Group Ltd. now owns 22,238 shares of the information technology services provider’s stock valued at $116,000 after purchasing an additional 12,058 shares during the last quarter. Crescent Grove Advisors LLC lifted its holdings in Computer Task Group by 54.0% during the 3rd quarter. Crescent Grove Advisors LLC now owns 106,778 shares of the information technology services provider’s stock valued at $557,000 after purchasing an additional 37,456 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Computer Task Group by 68.0% during the 3rd quarter. Ancora Advisors LLC now owns 150,758 shares of the information technology services provider’s stock valued at $787,000 after purchasing an additional 61,028 shares during the last quarter. Algert Global LLC lifted its holdings in Computer Task Group by 10.5% during the 3rd quarter. Algert Global LLC now owns 211,349 shares of the information technology services provider’s stock valued at $1,103,000 after purchasing an additional 20,133 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Computer Task Group by 6.8% during the 3rd quarter. Acadian Asset Management LLC now owns 257,156 shares of the information technology services provider’s stock valued at $1,342,000 after purchasing an additional 16,476 shares during the last quarter. 53.15% of the stock is owned by hedge funds and other institutional investors.

NASDAQ CTG traded up $0.04 during midday trading on Tuesday, hitting $4.62. The company had a trading volume of 2,746 shares, compared to its average volume of 10,363. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $65.55 million, a price-to-earnings ratio of 20.98, a P/E/G ratio of 0.74 and a beta of 0.54. Computer Task Group has a fifty-two week low of $3.85 and a fifty-two week high of $9.62.

Computer Task Group (NASDAQ:CTG) last posted its quarterly earnings results on Thursday, October 18th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $90.26 million for the quarter, compared to analyst estimates of $88.62 million. Computer Task Group had a net margin of 0.62% and a return on equity of 5.13%. As a group, sell-side analysts expect that Computer Task Group will post 0.28 earnings per share for the current fiscal year.

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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