Brokerages Set $7.00 Price Target for Computer Task Group, Inc. (NASDAQ:CTG)

Computer Task Group, Inc. (NASDAQ:CTG) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price objective of $7.00 for the company and are expecting that the company will post $0.09 EPS for the current quarter, according to Zacks. Zacks has also assigned Computer Task Group an industry rank of 79 out of 255 based on the ratings given to related companies.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Computer Task Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. ValuEngine upgraded Computer Task Group from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd.

A number of institutional investors have recently bought and sold shares of CTG. Citadel Advisors LLC bought a new position in shares of Computer Task Group during the 2nd quarter worth about $56,000. Courier Capital LLC bought a new position in shares of Computer Task Group in the second quarter worth about $59,000. Acadian Asset Management LLC raised its stake in shares of Computer Task Group by 7.4% during the second quarter. Acadian Asset Management LLC now owns 273,429 shares of the information technology services provider’s stock worth $1,096,000 after buying an additional 18,944 shares during the last quarter. BlackRock Inc. increased its stake in Computer Task Group by 12.1% in the second quarter. BlackRock Inc. now owns 432,770 shares of the information technology services provider’s stock valued at $1,735,000 after purchasing an additional 46,866 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Computer Task Group by 4.0% in the second quarter. Renaissance Technologies LLC now owns 958,360 shares of the information technology services provider’s stock valued at $3,843,000 after buying an additional 36,597 shares during the period. 48.66% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CTG traded down $0.02 during mid-day trading on Monday, reaching $4.99. 27,630 shares of the company’s stock were exchanged, compared to its average volume of 36,793. The business’s fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $4.40. Computer Task Group has a one year low of $3.85 and a one year high of $5.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $71.50 million, a PE ratio of 20.79, a price-to-earnings-growth ratio of 0.94 and a beta of 0.43.

Computer Task Group (NASDAQ:CTG) last posted its quarterly earnings data on Tuesday, July 23rd. The information technology services provider reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The company had revenue of $100.41 million for the quarter, compared to analysts’ expectations of $100.31 million. Computer Task Group had a negative net margin of 0.66% and a positive return on equity of 5.48%. As a group, equities research analysts forecast that Computer Task Group will post 0.35 EPS for the current year.

About Computer Task Group

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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