May 17, 2022

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Software Development

$93.63 Million in Sales Expected for Computer Task Group, Incorporated (NASDAQ:CTG) This Quarter


Brokerages expect that Computer Task Group, Incorporated (NASDAQ:CTGGet Rating) will post $93.63 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Computer Task Group’s earnings, with the lowest sales estimate coming in at $93.50 million and the highest estimate coming in at $93.76 million. Computer Task Group posted sales of $97.13 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.6%. The firm is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Computer Task Group will report full-year sales of $384.85 million for the current year, with estimates ranging from $379.69 million to $390.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $406.85 million, with estimates ranging from $396.20 million to $417.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Computer Task Group.

Computer Task Group (NASDAQ:CTGGet Rating) last posted its earnings results on Tuesday, February 22nd. The information technology services provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.08. The company had revenue of $112.39 million for the quarter, compared to analyst estimates of $112.66 million. Computer Task Group had a net margin of 3.50% and a return on equity of 11.20%. During the same quarter in the prior year, the business posted $0.14 EPS.

Several research analysts have issued reports on the stock. StockNews.com started coverage on shares of Computer Task Group in a report on Monday. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Computer Task Group from a “hold” rating to a “sell” rating in a report on Thursday, March 10th.

Shares of Computer Task Group stock traded up $0.04 on Thursday, hitting $10.01. 14,563 shares of the company traded hands, compared to its average volume of 28,294. The company has a market cap of $153.56 million, a P/E ratio of 11.00, a P/E/G ratio of 0.72 and a beta of 0.74. The firm’s 50-day simple moving average is $9.12 and its 200 day simple moving average is $8.73. Computer Task Group has a 12-month low of $6.77 and a 12-month high of $11.68.

Several institutional investors and hedge funds have recently made changes to their positions in CTG. Knightsbridge Asset Management LLC boosted its position in shares of 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 worth $240,000 after acquiring an additional 1,710 shares during the last quarter. Ancora Advisors LLC lifted its position in Computer Task Group by 21.6% during 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 buying an additional 29,383 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Computer Task Group by 15.5% during 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 buying an additional 1,839 shares in the last quarter. Lewis Capital Management LLC acquired a new position in Computer Task Group during the fourth quarter valued at approximately $3,541,000. Finally, Millennium Management LLC lifted its position in Computer Task Group by 16.9% during the third quarter. Millennium Management LLC now owns 15,959 shares of the information technology services provider’s stock valued at $127,000 after buying an additional 2,304 shares in the last quarter. Institutional investors and hedge funds own 53.52% of the company’s stock.

About Computer Task Group (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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