Insider Selling: Computer Task Group, Inc. (CTG) SVP Sells 30,798 Shares of Stock

Computer Task Group, Inc. (NASDAQ:CTG) SVP Filip J. L. Gyde sold 30,798 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $8.33, for a total transaction of $256,547.34. Following the sale, the senior vice president now directly owns 152,975 shares of the company’s stock, valued at approximately $1,274,281.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Computer Task Group, Inc. (NASDAQ:CTG) remained flat at $$8.18 during mid-day trading on Tuesday. 163,455 shares of the company’s stock traded hands, compared to its average volume of 83,912. Computer Task Group, Inc. has a 1-year low of $4.90 and a 1-year high of $8.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a market cap of $126.75, a P/E ratio of 163.60, a P/E/G ratio of 1.54 and a beta of 0.56.

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Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings data on Tuesday, February 20th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Computer Task Group had a net margin of 0.27% and a return on equity of 4.17%. The firm had revenue of $74.60 million during the quarter, compared to the consensus estimate of $73.55 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. equities research analysts expect that Computer Task Group, Inc. will post 0.36 earnings per share for the current year.

Computer Task Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that allows the company to buyback 1,000% of shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through a dutch auction. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently issued reports on CTG shares. Zacks Investment Research raised shares of Computer Task Group from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. ValuEngine downgraded shares of Computer Task Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th.

Several hedge funds have recently modified their holdings of CTG. Granahan Investment Management Inc. MA bought a new stake in shares of Computer Task Group during the 3rd quarter valued at $611,000. Municipal Employees Retirement System of Michigan bought a new position in Computer Task Group in the 4th quarter worth $540,000. Algert Global LLC boosted its holdings in Computer Task Group by 249.2% in the 4th quarter. Algert Global LLC now owns 147,517 shares of the information technology services provider’s stock worth $752,000 after buying an additional 105,274 shares during the period. Macquarie Group Ltd. bought a new position in Computer Task Group in the 3rd quarter worth $483,000. Finally, Renaissance Technologies LLC boosted its holdings in Computer Task Group by 17.4% in the 4th quarter. Renaissance Technologies LLC now owns 589,500 shares of the information technology services provider’s stock worth $3,006,000 after buying an additional 87,200 shares during the period. 46.10% of the stock is owned by hedge funds and other institutional investors.

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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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