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

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IT Working Group (NASDAQ:CTG – Get a rating) released an update to its fiscal 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.640 to $0.720 for the period, compared to the consensus estimate. from Thomson Reuters of $0.710. The company released a revenue forecast of $375 million to $395 million, compared to a consensus revenue estimate of $397.04 million.

CTG was down $0.14 during midday trading on Tuesday, hitting $8.89. The company had a trading volume of 19,659 shares, compared to an average volume of 26,938. Computer Task Group has a 52-week low of $6.77 and a 52-week high of $11.68. The company has a market capitalization of $136.40 million, a price-earnings ratio of 9.77, a PEG ratio of 0.65 and a beta of 0.74. The stock’s 50-day moving average price is $8.74 and its 200-day moving average price is $8.58.

IT Working Group (NASDAQ:CTG – Get a rating) last released its results on Monday, February 21. The information technology service provider reported EPS of $0.25 for the quarter, beating the consensus estimate of $0.17 by $0.08. Computer Task Group achieved a net margin of 3.50% and a return on equity of 11.61%. In the same quarter of the previous year, the company had earned earnings per share of $0.14. Sell-side analysts expect Computer Task Group to post 0.69 EPS for the current fiscal year.

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Several research companies have recently weighed in on CTG. began covering Computer Task Group shares in a report on Thursday, March 10. They set a buy rating on the stock. Zacks Investment Research cut Computer Task Group shares from a hold rating to a sell rating in a Thursday, March 10 research note.

Hedge funds have recently increased or reduced their holdings in the stock. BlackRock Inc. raised its position in Computer Task Group shares by 0.6% in the fourth quarter. BlackRock Inc. now owns 283,494 shares of the information technology service provider worth $2,826,000 after purchasing an additional 1,827 shares during the period. Morgan Stanley increased its stake in shares of Computer Task Group by 7.0% in the second quarter. Morgan Stanley now owns 33,300 shares of the information technology service provider worth $322,000 after acquiring 2,178 additional shares during the period. Citadel Advisors LLC purchased a new stake in shares of Computer Task Group in the second quarter for a value of approximately $286,000. Millennium Management LLC increased its holdings of Computer Task Group stock by 15.0% in the second quarter. Millennium Management LLC now owns 13,655 shares of the information technology service provider worth $132,000 after purchasing an additional 1,779 shares in the last quarter. Finally, LPL Financial LLC bought a new position in Computer Task Group stock in the third quarter worth about $80,000. 53.52% of the shares are currently held by institutional investors.

IT Workgroup Company Profile (Get a rating)

Computer Task Group, Inc is engaged in the provision of information technology solutions and staffing services. The company’s services encompass the information technology enterprise solution lifecycle, including the planning, development, implementation, management and maintenance phases of the information technology solution. information.

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