Computer Task Group (NASDAQ:CTG) Releases FY 2022 Earnings Guidance

Computer Task Group (NASDAQ:CTG – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.64-$0.72 for the period, compared to the consensus estimate of $0.69. The company issued revenue guidance of $360.00 million-$380.00 million, compared to the consensus revenue estimate of $384.84 million.

Shares of NASDAQ:CTG opened at $8.35 on Tuesday. The firm has a fifty day moving average price of $9.35 and a two-hundred day moving average price of $8.98. Computer Task Group has a one year low of $6.77 and a one year high of $10.40. The company has a market cap of $128.10 million, a price-to-earnings ratio of 8.70, a PEG ratio of 0.61 and a beta of 0.72.

Computer Task Group (NASDAQ:CTG – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The information technology services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. Computer Task Group had a net margin of 3.76% and a return on equity of 11.26%. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, sell-side analysts forecast that Computer Task Group will post 0.69 earnings per share for the current fiscal year.

CTG has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Computer Task Group in a report on Saturday. They set a strong-buy rating for the company. Zacks Investment Research downgraded shares of Computer Task Group from a hold rating to a sell rating in a report on Thursday, March 10th.

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Computer Task Group by 2.8% in the first quarter. State Street Corp now owns 58,271 shares of the information technology services provider’s stock valued at $569,000 after acquiring an additional 1,586 shares during the period. Vanguard Group Inc. boosted its position in Computer Task Group by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 846,388 shares of the information technology services provider’s stock valued at $8,269,000 after acquiring an additional 181,316 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Computer Task Group by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 964,872 shares of the information technology services provider’s stock worth $9,427,000 after acquiring an additional 9,413 shares during the period. BlackRock Inc. raised its position in shares of Computer Task Group by 0.6% in the 4th quarter. BlackRock Inc. now owns 283,494 shares of the information technology services provider’s stock worth $2,826,000 after acquiring an additional 1,827 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in shares of Computer Task Group in the 3rd quarter valued at approximately $80,000. Hedge funds and other institutional investors own 53.00% of the company’s stock.

Computer Task Group Company Profile (Get Rating)

Computer Task Group, Incorporated, together with its subsidiaries, offers 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-Strategic Technology Services.

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