Computer Task Group (NASDAQ:CTG) Releases Fiscal 2022 Revenue Forecast



IT Working Group (NASDAQ: CTGGet a rating) updated its fiscal 2022 earnings guidance on Tuesday. The company provided EPS guidance of $0.64 to $0.72 for the period, compared to the consensus EPS estimate of 0, $69. The company released a revenue forecast of $360.00-380.00 million, compared to the consensus revenue estimate of $384.84 million.

CTM opened at $8.35 on Tuesday. Computer Task Group has a fifty-two week low of $6.77 and a fifty-two week high of $10.40. The company has a fifty-day moving average of $9.35 and a two-hundred-day moving average of $8.98. The stock has a market capitalization of $128.10 million, a price/earnings ratio of 8.70, a PEG ratio of 0.61 and a beta of 0.72.

IT Working Group (NASDAQ: CTGGet a rating) last released its quarterly earnings data on Tuesday, May 10. The information technology service provider reported earnings per share of $0.16 for the quarter, beating consensus analyst estimates of $0.13 by $0.03. Computer Task Group achieved a net margin of 3.76% and a return on equity of 11.26%. In the same period a year earlier, the company had earned earnings per share of $0.13. On average, analysts predict Computer Task Group will post 0.69 earnings per share for the current year.

A number of research companies have recently commented on CTG. Zacks Investment Research cut Computer Task Group shares from a hold rating to a sell rating in a Thursday, March 10 research note. StockNews.com began covering Computer Task Group stocks in a research report on Saturday. They set a strong buy rating on the stock.

A number of institutional investors and hedge funds have been buying and selling shares of CTG recently. State Street Corp increased its stake in Computer Task Group by 2.8% in the first quarter. State Street Corp now owns 58,271 shares of the information technology service provider valued at $569,000 after buying an additional 1,586 shares in the last quarter. Millennium Management LLC increased its stake in Computer Task Group by 15.0% in the second quarter. Millennium Management LLC now owns 13,655 shares of the information technology service provider valued at $132,000 after purchasing an additional 1,779 shares in the last quarter. BlackRock Inc. increased its holdings in Computer Task Group by 0.6% in the fourth quarter. BlackRock Inc. now owns 283,494 shares of the information technology service provider valued at $2,826,000 after buying an additional 1,827 shares in the last quarter. Morgan Stanley increased its holding in shares of Computer Task Group by 7.0% in the second quarter. Morgan Stanley now owns 33,300 shares of the information technology services provider worth $322,000 after acquiring 2,178 more shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holding in Computer Task Group shares by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 964,872 shares of the information technology service provider worth $9,427,000 after acquiring 9,413 additional shares in the last quarter. Hedge funds and other institutional investors own 53.00% of the company’s shares.

IT Workgroup Company Profile (Get a rating)

Computer Task Group, Incorporated, together with its subsidiaries, provides information and technology services in North America, South America, Western Europe and India. It operates through three segments: North America IT Solutions and Services, Europe IT Solutions and Services and Non-core Technology Services.

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Earnings history and estimates for Computer Task Group (NASDAQ:CTG)



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