Computer Task Group, Inc. (NASDAQ:CTG) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 15,800 shares, a drop of 18.1% from the September 30th total of 19,300 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 52,900 shares, the short-interest ratio is presently 0.3 days.
CTG has been the subject of several research analyst reports. ValuEngine lowered shares of Computer Task Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Zacks Investment Research upgraded shares of Computer Task Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $7.00.
Shares of CTG stock traded down $0.14 during trading hours on Friday, hitting $5.56. 124,700 shares of the company were exchanged, compared to its average volume of 71,291. The firm has a fifty day simple moving average of $5.20 and a 200 day simple moving average of $4.60. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.26. Computer Task Group has a 52-week low of $3.85 and a 52-week high of $6.05. The stock has a market capitalization of $84.67 million, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.07 and a beta of 0.49.
Computer Task Group (NASDAQ:CTG) last posted its quarterly earnings data on Tuesday, October 22nd. The information technology services provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Computer Task Group had a negative net margin of 0.72% and a positive return on equity of 6.29%. The company had revenue of $97.20 million during the quarter, compared to the consensus estimate of $98.50 million. Sell-side analysts anticipate that Computer Task Group will post 0.36 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of CTG. BlackRock Inc. lifted its holdings in shares of Computer Task Group by 12.1% during the 2nd quarter. BlackRock Inc. now owns 432,770 shares of the information technology services provider’s stock worth $1,735,000 after acquiring an additional 46,866 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Computer Task Group by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 958,360 shares of the information technology services provider’s stock worth $3,843,000 after acquiring an additional 36,597 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Computer Task Group during the 3rd quarter worth $97,000. Acadian Asset Management LLC lifted its holdings in shares of Computer Task Group by 7.4% during the 2nd quarter. Acadian Asset Management LLC now owns 273,429 shares of the information technology services provider’s stock worth $1,096,000 after acquiring an additional 18,944 shares during the last quarter. Finally, Courier Capital LLC bought a new stake in shares of Computer Task Group during the 2nd quarter worth $59,000. 47.45% of the stock is owned by institutional investors.
Computer Task Group Company Profile
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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