Computer Task Group, Inc. (NASDAQ:CTG) insider Filip J. L. Gyde sold 40,000 shares of Computer Task Group stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $8.30, for a total transaction of $332,000.00. Following the completion of the sale, the insider now owns 152,975 shares of the company’s stock, valued at $1,269,692.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Computer Task Group, Inc. (NASDAQ:CTG) opened at $8.08 on Friday. Computer Task Group, Inc. has a 1 year low of $4.90 and a 1 year high of $8.62. The firm has a market cap of $125.07, a P/E ratio of 37.18, a PEG ratio of 1.51 and a beta of 0.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.55 and a quick ratio of 2.55.
Computer Task Group (NASDAQ:CTG) last announced its quarterly earnings data on Tuesday, February 20th. The information technology services provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Computer Task Group had a net margin of 0.27% and a return on equity of 4.17%. The business had revenue of $74.60 million during the quarter, compared to the consensus estimate of $73.55 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. analysts predict that Computer Task Group, Inc. will post 0.36 EPS for the current year.
Computer Task Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 15th that permits the company to buyback 1,000% of shares. This buyback authorization permits the information technology services provider to repurchase shares of its stock through a dutch auction. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in CTG. Granahan Investment Management Inc. MA acquired a new position in Computer Task Group during the third quarter valued at approximately $611,000. Municipal Employees Retirement System of Michigan acquired a new position in Computer Task Group during the fourth quarter valued at approximately $540,000. Algert Global LLC raised its position in Computer Task Group by 249.2% during the fourth quarter. Algert Global LLC now owns 147,517 shares of the information technology services provider’s stock valued at $752,000 after purchasing an additional 105,274 shares in the last quarter. Macquarie Group Ltd. acquired a new position in Computer Task Group during the third quarter valued at approximately $483,000. Finally, Renaissance Technologies LLC raised its position in Computer Task Group by 17.4% during the fourth quarter. Renaissance Technologies LLC now owns 589,500 shares of the information technology services provider’s stock valued at $3,006,000 after purchasing an additional 87,200 shares in the last quarter. Institutional investors and hedge funds own 46.10% of the company’s stock.
CTG has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Computer Task Group from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research report on Thursday. ValuEngine downgraded shares of Computer Task Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th.
About Computer Task Group
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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