$97.99 Million in Sales Expected for Computer Task Group, Inc. (NASDAQ:CTG) This Quarter

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Wall Street brokerages expect that Computer Task Group, Inc. (NASDAQ:CTG) will post $97.99 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Computer Task Group’s earnings. The highest sales estimate is $98.50 million and the lowest is $97.48 million. Computer Task Group posted sales of $90.26 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The company is expected to announce its next earnings results on Thursday, October 17th.

On average, analysts expect that Computer Task Group will report full year sales of $396.95 million for the current financial year, with estimates ranging from $395.89 million to $398.00 million. For the next year, analysts anticipate that the business will report sales of $413.87 million, with estimates ranging from $412.73 million to $415.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Computer Task Group.

Computer Task Group (NASDAQ:CTG) last released its quarterly earnings data on Tuesday, July 23rd. The information technology services provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Computer Task Group had a negative net margin of 0.66% and a positive return on equity of 5.48%. The business had revenue of $100.41 million during the quarter, compared to the consensus estimate of $100.31 million.

A number of brokerages recently commented on CTG. B. Riley set a $8.00 price target on shares of Computer Task Group and gave the company a “buy” rating in a report on Monday, April 22nd. TheStreet raised shares of Computer Task Group from a “d+” rating to a “c-” rating in a report on Monday, May 13th. Zacks Investment Research raised shares of Computer Task Group from a “hold” rating to a “strong-buy” rating and set a $5.25 price target for the company in a report on Thursday, July 25th. Barrington Research set a $7.00 price target on shares of Computer Task Group and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, ValuEngine downgraded shares of Computer Task Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $6.75.

Shares of CTG remained flat at $$4.08 during midday trading on Thursday. 161,494 shares of the company’s stock traded hands, compared to its average volume of 73,745. The firm has a 50 day simple moving average of $4.18 and a 200 day simple moving average of $4.25. Computer Task Group has a twelve month low of $3.85 and a twelve month high of $6.35. The stock has a market cap of $59.49 million, a PE ratio of 17.00, a price-to-earnings-growth ratio of 0.82 and a beta of 0.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 1.93.

A number of hedge funds and other institutional investors have recently made changes to their positions in CTG. Citadel Advisors LLC purchased a new position in shares of Computer Task Group during the second quarter worth approximately $56,000. Courier Capital LLC purchased a new position in shares of Computer Task Group during the second quarter worth approximately $59,000. Acadian Asset Management LLC increased its position 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 acquiring an additional 18,944 shares during the period. Fosun International Ltd purchased a new position in shares of Computer Task Group during the first quarter worth approximately $98,000. Finally, Tocqueville Asset Management L.P. increased its position in shares of Computer Task Group by 8.9% during the first quarter. Tocqueville Asset Management L.P. now owns 283,078 shares of the information technology services provider’s stock worth $1,217,000 after acquiring an additional 23,078 shares during the period. 49.20% of the stock is owned by institutional investors and hedge funds.

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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