Computer Task Group (CTG) Board of Directors Declares Stock Buyback Plan

Computer Task Group (NASDAQ:CTG) announced that its board has authorized a stock repurchase plan, which authorizes the company to repurchase 1,000% of shares on Thursday, February 15th, EventVestor reports. This repurchase authorization authorizes the information technology services provider to reacquire shares of its stock through a dutch auction. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Shares of Computer Task Group (CTG) opened at $6.45 on Wednesday. The firm has a market cap of $99.92, a PE ratio of 43.00, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19. Computer Task Group has a 1 year low of $4.73 and a 1 year high of $6.45.

Computer Task Group (NASDAQ:CTG) last posted its quarterly earnings data on Tuesday, February 20th. The information technology services provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $74.60 million during the quarter, compared to analysts’ expectations of $73.55 million. Computer Task Group had a net margin of 0.78% and a return on equity of 4.50%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS. equities research analysts forecast that Computer Task Group will post 0.22 earnings per share for the current year.

Several equities research analysts have weighed in on the stock. TheStreet upgraded shares of Computer Task Group from a “d+” rating to a “c” rating in a research report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Computer Task Group from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.

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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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