Foundry Partners LLC reduced its stake in the shares of Computer Task Group, Incorporated (NASDAQ: CTG – Get a rating) by 2.0% in the 1st quarter, HoldingsChannel reports. The company held 225,235 shares of the IT services provider after selling 4,550 shares during the period. Foundry Partners LLC’s holdings in Computer Task Group were worth $2,201,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently changed their positions in the company. Fosun International Ltd increased its position in Computer Task Group by 3.6% during the fourth quarter. Fosun International Ltd now owns 56,837 shares of the information technology service provider valued at $544,000 after buying an additional 2,000 shares in the last quarter. Minerva Advisors LLC increased its holding in shares of Computer Task Group by 0.9% in the fourth quarter. Minerva Advisors LLC now owns 1,228,729 shares of the information technology service provider worth $12,251,000 after acquiring 11,325 additional shares in the last quarter. Finally, Lewis Capital Management LLC purchased a new stake in Computer Task Group stock in Q4 for a value of approximately $3,541,000. Institutional investors and hedge funds hold 53.00% of the company’s shares.
Shares of CTM opened at $8.79 on Friday. The company has a market capitalization of $134.84 million, a price-earnings ratio of 9.16, a PEG ratio of 0.63 and a beta of 0.72. Computer Task Group, Incorporated has a fifty-two week low of $6.77 and a fifty-two week high of $10.38. The company has a 50-day moving average price of $8.97 and a 200-day moving average price of $9.07.
IT Working Group (NASDAQ: CTG – Get a rating) last released its results on Tuesday, May 10. The information technology service provider reported EPS of $0.16 for the quarter, beating the consensus estimate of $0.13 by $0.03. Computer Task Group achieved a net margin of 3.76% and a return on equity of 11.26%. The company posted revenue of $89.42 million for the quarter, versus a consensus estimate of $93.63 million. In the same period a year earlier, the company earned earnings per share of $0.13. Equity research analysts expect Computer Task Group, Incorporated to post EPS of 0.69 for the current year.
Separately, StockNews.com launched a hedge on Computer Task Group shares in a Thursday, June 9 report. They issued a “Strong Buy” rating for the company.
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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