Computer Task Group, Inc. (NASDAQ:CTG) Short Interest Up 67.4% in February

Computer Task Group, Inc. (NASDAQ:CTG) was the target of a large increase in short interest during the month of February. As of February 14th, there was short interest totalling 28,800 shares, an increase of 67.4% from the January 30th total of 17,200 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 38,400 shares, the short-interest ratio is currently 0.8 days.

CTG traded down $0.09 during mid-day trading on Friday, reaching $5.85. The stock had a trading volume of 18,144 shares, compared to its average volume of 34,121. The stock has a market capitalization of $85.56 million, a P/E ratio of 19.50 and a beta of 0.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.81 and a current ratio of 1.81. The firm’s fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $5.31. Computer Task Group has a 52 week low of $3.98 and a 52 week high of $6.48.

Computer Task Group (NASDAQ:CTG) last announced its quarterly earnings data on Tuesday, February 25th. The information technology services provider reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. The firm had revenue of $99.32 million for the quarter. Computer Task Group had a return on equity of 8.59% and a net margin of 1.05%. As a group, analysts expect that Computer Task Group will post 0.45 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Granahan Investment Management Inc. MA boosted its position in Computer Task Group by 1.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 571,961 shares of the information technology services provider’s stock valued at $2,860,000 after buying an additional 10,062 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Computer Task Group by 44.2% in the 3rd quarter. Gabelli Funds LLC now owns 36,041 shares of the information technology services provider’s stock valued at $180,000 after purchasing an additional 11,041 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Computer Task Group by 2.9% in the 4th quarter. Acadian Asset Management LLC now owns 287,429 shares of the information technology services provider’s stock valued at $1,488,000 after purchasing an additional 7,968 shares during the period. Gamco Investors INC. ET AL acquired a new position in shares of Computer Task Group in the 3rd quarter valued at $97,000. Finally, Group One Trading L.P. lifted its stake in shares of Computer Task Group by 129.5% in the 4th quarter. Group One Trading L.P. now owns 7,966 shares of the information technology services provider’s stock valued at $41,000 after purchasing an additional 4,495 shares during the period. Hedge funds and other institutional investors own 47.98% of the company’s stock.

A number of equities research analysts recently commented on CTG shares. ValuEngine lowered Computer Task Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Zacks Investment Research lowered Computer Task Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Computer Task Group presently has an average rating of “Hold” and a consensus target price of $7.00.

Computer Task Group Company Profile

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.

Featured Story: Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Computer Task Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Computer Task Group and related companies with MarketBeat.com's FREE daily email newsletter.