Brokerages expect Computer Task Group (NASDAQ:CTG) to report $0.06 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Computer Task Group’s earnings. Computer Task Group reported earnings of $0.05 per share during the same quarter last year, which indicates a positive year over year growth rate of 20%. The business is scheduled to report its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Computer Task Group will report full-year earnings of $0.36 per share for the current fiscal year. For the next fiscal year, analysts forecast that the business will report earnings of $0.46 per share, with EPS estimates ranging from $0.40 to $0.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Computer Task Group.
Computer Task Group (NASDAQ:CTG) last released its earnings results on Tuesday, February 20th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Computer Task Group had a return on equity of 4.17% and a net margin of 0.27%. The business had revenue of $74.60 million for the quarter, compared to the consensus estimate of $73.55 million. During the same period last year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year.
In other Computer Task Group news, SVP Filip J. L. Gyde sold 30,798 shares of Computer Task Group stock in a transaction that occurred on Friday, March 16th. The stock was 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 $1,274,281.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $332,000.00. Following the sale, the insider now directly owns 152,975 shares in the company, valued at $1,269,692.50. The disclosure for this sale can be found here. 10.40% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CTG. Granahan Investment Management Inc. MA bought a new position in shares of Computer Task Group in the third quarter valued at approximately $611,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Computer Task Group in the fourth quarter valued at approximately $540,000. Algert Global LLC raised its stake in shares of Computer Task Group by 249.2% in the fourth quarter. Algert Global LLC now owns 147,517 shares of the information technology services provider’s stock valued at $752,000 after acquiring an additional 105,274 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Computer Task Group in the third quarter valued at approximately $483,000. Finally, Renaissance Technologies LLC raised its stake in shares of Computer Task Group by 17.4% in 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 acquiring an additional 87,200 shares during the last quarter. Institutional investors own 46.70% of the company’s stock.
CTG stock traded up $0.16 during trading on Wednesday, reaching $8.44. 32,711 shares of the stock were exchanged, compared to its average volume of 83,677. Computer Task Group has a twelve month low of $4.90 and a twelve month high of $8.62. The company has a market cap of $126.60, a PE ratio of 37.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.48. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.06.
Computer Task Group announced that its board has authorized a share repurchase plan on Thursday, February 15th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the information technology services provider to purchase shares of its stock through a dutch auction. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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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