Computer Task Group, Incorporated (CTG) PT Set at $9.00 by B. Riley

Computer Task Group, Incorporated (NASDAQ:CTG) received a $9.00 price objective from stock analysts at B. Riley in a report released on Monday. The brokerage presently has a “buy” rating on the information technology services provider’s stock. B. Riley’s price target points to a potential upside of 74.76% from the company’s previous close.

The analysts wrote, “We therefore remain comfortable with our current Q4 estimates and anticipate CTG will retain or narrow its prior FY ’17 guidance. With CTG trading at just 4.9x and 3.6x our FY ’17 and FY ’18 adjusted EBITDA estimates, respectively, we believe shares remain attractively valued.””

Shares of Computer Task Group, (NASDAQ CTG) opened at 5.15 on Monday. The company has a 50-day moving average price of $5.27 and a 200-day moving average price of $5.48. Computer Task Group, has a 52-week low of $3.87 and a 52-week high of $6.33. The stock’s market capitalization is $80.85 million.

Computer Task Group, (NASDAQ:CTG) last announced its quarterly earnings data on Monday, October 23rd. The information technology services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $74.04 million for the quarter, compared to analysts’ expectations of $75.80 million. Computer Task Group, had a negative net margin of 4.50% and a positive return on equity of 4.27%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, equities analysts anticipate that Computer Task Group, will post $0.24 earnings per share for the current year.

Computer Task Group, declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 24th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Computer Task Group, by 0.3% during the second quarter. Vanguard Group Inc. now owns 808,976 shares of the information technology services provider’s stock valued at $4,522,000 after buying an additional 2,400 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Computer Task Group, by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 761,652 shares of the information technology services provider’s stock valued at $4,258,000 after buying an additional 7,570 shares during the last quarter. Renaissance Technologies LLC raised its stake in Computer Task Group, by 3.9% during the first quarter. Renaissance Technologies LLC now owns 428,000 shares of the information technology services provider’s stock valued at $2,363,000 after buying an additional 16,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Computer Task Group, by 93.4% during the first quarter. Goldman Sachs Group Inc. now owns 80,160 shares of the information technology services provider’s stock valued at $442,000 after buying an additional 38,719 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Computer Task Group, by 4.2% during the second quarter. Northern Trust Corp now owns 55,589 shares of the information technology services provider’s stock valued at $311,000 after buying an additional 2,247 shares during the last quarter. Institutional investors and hedge funds own 46.03% of the company’s stock.

Computer Task Group, Company Profile

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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