StockNews.com Begins Coverage on Computer Task Group (NASDAQ:CTG)

Mabel R. Acton

StockNews.com assumed coverage on shares of Computer Task Group (NASDAQ:CTGGet Rating) in a research note published on Monday. The firm issued a buy rating on the information technology services provider’s stock.

Separately, Zacks Investment Research lowered Computer Task Group from a hold rating to a sell rating in a report on Thursday, March 10th.

Shares of CTG stock opened at $10.05 on Monday. The stock’s fifty day moving average is $9.15 and its two-hundred day moving average is $8.74. The firm has a market capitalization of $154.18 million, a P/E ratio of 11.04, a PEG ratio of 0.72 and a beta of 0.74. Computer Task Group has a fifty-two week low of $6.77 and a fifty-two week high of $11.68.

Computer Task Group (NASDAQ:CTGGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The information technology services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. Computer Task Group had a return on equity of 11.20% and a net margin of 3.50%. The business had revenue of $112.39 million for the quarter, compared to analyst estimates of $112.66 million. During the same quarter in the previous year, the firm earned $0.14 EPS. As a group, equities research analysts predict that Computer Task Group will post 0.69 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in CTG. Knightsbridge Asset Management LLC boosted its holdings in Computer Task Group by 6.0% in the third quarter. Knightsbridge Asset Management LLC now owns 30,110 shares of the information technology services provider’s stock valued at $240,000 after purchasing an additional 1,710 shares in the last quarter. Ancora Advisors LLC boosted its holdings in Computer Task Group by 21.6% in the third quarter. Ancora Advisors LLC now owns 165,661 shares of the information technology services provider’s stock valued at $1,322,000 after purchasing an additional 29,383 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Computer Task Group by 15.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,735 shares of the information technology services provider’s stock valued at $110,000 after purchasing an additional 1,839 shares in the last quarter. Lewis Capital Management LLC acquired a new position in Computer Task Group in the fourth quarter valued at approximately $3,541,000. Finally, Millennium Management LLC boosted its holdings in Computer Task Group by 15.0% in the second quarter. Millennium Management LLC now owns 13,655 shares of the information technology services provider’s stock valued at $132,000 after purchasing an additional 1,779 shares in the last quarter. 53.52% of the stock is owned by institutional investors and hedge funds.

Computer Task Group Company Profile (Get Rating)

Computer Task Group, Inc engages in the provision of information technology solutions and staffing services. The firm’s services encompass the information technology business solution life cycle, including phases for planning, developing, implementing, managing, and maintaining the information technology solution.

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