Short Interest in Computer Task Group, Incorporated (NASDAQ:CTG) Expands By 11.1%

Computer Task Group, Incorporated (NASDAQ:CTG – Get Rating) was the recipient of a large increase in short interest in the month of December. As of December 30th, there was short interest totalling 13,000 shares, an increase of 11.1% from the December 15th total of 11,700 shares. Based on an average daily volume of 23,100 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s shares are sold short.

Computer Task Group Stock Performance

Shares of Computer Task Group stock opened at $6.95 on Tuesday. The stock has a 50 day moving average price of $7.30 and a 200-day moving average price of $7.53. Computer Task Group has a one year low of $6.42 and a one year high of $10.10. The stock has a market cap of $109.20 million, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 0.53 and a beta of 0.77.

Computer Task Group (NASDAQ:CTG – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The information technology services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Computer Task Group had a net margin of 3.92% and a return on equity of 10.57%. The business had revenue of $75.00 million for the quarter, compared to analysts’ expectations of $78.22 million. Sell-side analysts predict that Computer Task Group will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Computer Task Group

A number of large investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in Computer Task Group by 2.8% during the 1st 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. Foundry Partners LLC raised its position in Computer Task Group by 1.5% during the 3rd quarter. Foundry Partners LLC now owns 181,304 shares of the information technology services provider’s stock valued at $1,215,000 after purchasing an additional 2,656 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 valued at $9,427,000 after purchasing an additional 9,413 shares in the last quarter. Lewis Capital Management LLC raised its position in Computer Task Group by 2.6% during the 3rd quarter. Lewis Capital Management LLC now owns 386,589 shares of the information technology services provider’s stock valued at $2,590,000 after purchasing an additional 9,637 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new stake in Computer Task Group during the 2nd quarter valued at $100,000. Hedge funds and other institutional investors own 50.65% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Computer Task Group in a report on Sunday, November 27th. They issued a “buy” rating for the company.

About Computer Task Group

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Computer Task Group, Inc engages in the provision of information technology solutions and staffing services. The firm’s services encompass the information technology business solution life cycle, including phases for planning, developing, implementing, managing, and maintaining the information technology solution.