Mork Capital Management LLC reduced its position in shares of Computer Task Group, Inc. (NASDAQ:CTG) by 89.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,621 shares of the information technology services provider’s stock after selling 157,379 shares during the period. Mork Capital Management LLC’s holdings in Computer Task Group were worth $136,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTG. Yakira Capital Management Inc. purchased a new position in shares of Computer Task Group in the 1st quarter valued at $124,000. Marathon Trading Investment Management LLC purchased a new position in shares of Computer Task Group in the 1st quarter valued at $139,000. Millennium Management LLC purchased a new position in shares of Computer Task Group in the 1st quarter valued at $271,000. Bailard Inc. purchased a new position in shares of Computer Task Group in the 1st quarter valued at $272,000. Finally, Deutsche Bank AG increased its holdings in shares of Computer Task Group by 35.6% in the 4th quarter. Deutsche Bank AG now owns 61,402 shares of the information technology services provider’s stock valued at $313,000 after acquiring an additional 16,120 shares during the period. Institutional investors own 53.46% of the company’s stock.
Shares of CTG stock opened at $5.95 on Monday. Computer Task Group, Inc. has a 1-year low of $4.90 and a 1-year high of $9.62. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. The firm has a market cap of $83.36 million, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.24 and a beta of 0.52.
Computer Task Group (NASDAQ:CTG) last announced its earnings results on Thursday, July 19th. The information technology services provider reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Computer Task Group had a return on equity of 4.78% and a net margin of 0.30%. The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $88.06 million. equities research analysts forecast that Computer Task Group, Inc. will post 0.31 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Computer Task Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Barrington Research set a $9.00 price target on Computer Task Group and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, ValuEngine downgraded Computer Task Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $9.00.
About Computer Task Group
Computer Task Group, Incorporated, together with its subsidiaries, operates as an information technology solutions and staffing services company in North America, Europe, and India. Its IT solutions include the implementation and optimization of packaged software applications; development and deployment of customized software and solutions designed to fit the needs of a specific client or market; and design and distribution of complex technology components, as well as offers consulting services.
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