Computer Task Group (NASDAQ:CTG) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Computer Task Group (NASDAQ:CTG) from a hold rating to a buy rating in a research note released on Monday, Zacks.com reports. The firm currently has $10.00 price objective on the information technology services provider’s stock.

According to Zacks, “Computer Task Group, Incorporated provides information technology (IT) staffing, IT solutions, and application management outsourcing services in North America and Europe. The company’s staffing services consist of recruiting, retaining, and managing IT talent for its clients. Its IT solutions include helping clients assess their business needs and identifying the IT solutions for these needs, as well as the delivery of services, including the selection and implementation of packaged software, and the design, construction, testing, and integration of new systems. It serves primarily technology service providers, financial services, healthcare, and life sciences market areas.Computer Task Group was founded in 1966 by Randolph A. Marks and G. David Bae. The company is headquartered in Buffalo, New York “

CTG stock opened at $9.62 on Monday. Computer Task Group has a 1-year low of $6.04 and a 1-year high of $11.68. The company has a market capitalization of $147.60 million, a price-to-earnings ratio of 20.91, a PEG ratio of 0.84 and a beta of 0.71. The business has a 50 day simple moving average of $8.47 and a two-hundred day simple moving average of $8.73.

Computer Task Group (NASDAQ:CTG) last posted its earnings results on Tuesday, November 9th. The information technology services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $90.60 million during the quarter, compared to the consensus estimate of $91.19 million. Computer Task Group had a return on equity of 9.67% and a net margin of 1.81%. During the same period in the prior year, the company earned $0.18 EPS. On average, equities analysts predict that Computer Task Group will post 0.56 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CTG. Barclays PLC raised its holdings in Computer Task Group by 11,661.3% during the 3rd quarter. Barclays PLC now owns 3,646 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 3,615 shares during the period. LPL Financial LLC purchased a new stake in Computer Task Group during the 3rd quarter valued at $80,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Computer Task Group by 15.5% during the 3rd 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 during the period. Millennium Management LLC purchased a new stake in Computer Task Group during the 1st quarter valued at $113,000. Finally, American Century Companies Inc. purchased a new stake in Computer Task Group during the 2nd quarter valued at $115,000. Hedge funds and other institutional investors own 52.77% of the company’s stock.

About Computer Task Group

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.

Recommended Story: What is an Initial Coin Offering (ICO)?

Get a free copy of the Zacks research report on Computer Task Group (CTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com