StockNews.com Begins Coverage on Computer Task Group (NASDAQ:CTG) – MarketBeat
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Equities research analysts at StockNews.com initiated coverage on shares of Computer Task Group (NASDAQ:CTG – Get Rating) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the information technology services provider’s stock.
Computer Task Group Trading Up 1.5 %
CTG opened at $7.39 on Wednesday. The company’s 50 day moving average is $7.27 and its 200-day moving average is $8.25. Computer Task Group has a 1-year low of $6.42 and a 1-year high of $10.38. The company has a market cap of $114.69 million, a P/E ratio of 7.62, a PEG ratio of 0.62 and a beta of 0.76.
Computer Task Group (NASDAQ:CTG – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The information technology services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $82.76 million for the quarter, compared to the consensus estimate of $87.93 million. Computer Task Group had a net margin of 3.91% and a return on equity of 11.20%. On average, equities analysts forecast that Computer Task Group will post 0.59 EPS for the current year.
Institutional Trading of Computer Task Group
Several hedge funds have recently bought and sold shares of CTG. Royce & Associates LP boosted its holdings in Computer Task Group by 20.9% during the 2nd quarter. Royce & Associates LP now owns 1,393,106 shares of the information technology services provider’s stock worth $11,925,000 after acquiring an additional 240,870 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Computer Task Group by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 964,872 shares of the information technology services provider’s stock worth $9,427,000 after purchasing an additional 9,413 shares during the period. Vanguard Group Inc. raised its stake in shares of Computer Task Group by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 846,388 shares of the information technology services provider’s stock worth $8,269,000 after purchasing an additional 181,316 shares during the period. Lewis Capital Management LLC raised its stake in shares of Computer Task Group by 3.5% during the 2nd quarter. Lewis Capital Management LLC now owns 376,952 shares of the information technology services provider’s stock worth $3,227,000 after purchasing an additional 12,616 shares during the period. Finally, Foundry Partners LLC raised its stake in shares of Computer Task Group by 1.5% during the 3rd quarter. Foundry Partners LLC now owns 181,304 shares of the information technology services provider’s stock worth $1,215,000 after purchasing an additional 2,656 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.
Computer Task Group Company Profile
(Get Rating)
Computer Task Group, Incorporated, together with its subsidiaries, offers information and technology services in North America, South America, Western Europe, and India. It operates through three segments: North America IT Solutions and Services, Europe IT Solutions and Services, and Non-Strategic Technology Services.
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