Computer Task Group, Incorporated (NASDAQ:CTG) Sees Significant Increase in Short Interest – MarketBeat
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Computer Task Group, Incorporated (NASDAQ:CTG – Get Rating) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 20,900 shares, a growth of 6.1% from the September 15th total of 19,700 shares. Based on an average daily trading volume, of 19,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.2% of the company’s shares are short sold.
Wall Street Analysts Forecast Growth
Separately, StockNews.com assumed coverage on Computer Task Group in a report on Tuesday. They issued a “buy” rating on the stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Ritholtz Wealth Management purchased a new stake in Computer Task Group during the second quarter valued at about $100,000. Bailard Inc. purchased a new position in shares of Computer Task Group in the second quarter worth $146,000. O Shaughnessy Asset Management LLC raised its stake in Computer Task Group by 69.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 31,232 shares of the information technology services provider’s stock worth $267,000 after buying an additional 12,820 shares in the last quarter. Knightsbridge Asset Management LLC lifted its holdings in Computer Task Group by 101.7% in the second quarter. Knightsbridge Asset Management LLC now owns 63,512 shares of the information technology services provider’s stock worth $544,000 after buying an additional 32,028 shares during the period. Finally, State Street Corp grew its holdings in shares of Computer Task Group by 2.8% during the 1st quarter. State Street Corp now owns 58,271 shares of the information technology services provider’s stock worth $569,000 after acquiring an additional 1,586 shares during the period. 51.36% of the stock is owned by institutional investors.
Computer Task Group Stock Up 1.1 %
Shares of CTG stock traded up $0.08 during mid-day trading on Tuesday, reaching $7.18. 9,125 shares of the stock traded hands, compared to its average volume of 16,984. The stock’s fifty day simple moving average is $7.33 and its two-hundred day simple moving average is $8.36. 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 $111.43 million, a price-to-earnings ratio of 7.40, a price-to-earnings-growth ratio of 0.60 and a beta of 0.76.
Computer Task Group (NASDAQ:CTG – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. Computer Task Group had a return on equity of 11.20% and a net margin of 3.91%. The firm had revenue of $82.76 million during the quarter, compared to the consensus estimate of $87.93 million. On average, equities research analysts anticipate that Computer Task Group will post 0.59 EPS for the current fiscal year.
About Computer Task Group
(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.
Read More
- Get a free copy of the StockNews.com research report on Computer Task Group (CTG)
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