Renaissance Technologies Cuts Stake in Computer Task Group (CTG)
Fintel reports that Renaissance Technologies has filed a 13G/A form with the SEC disclosing ownership of 0.77MM shares of Computer Task Group, Inc. (CTG). This represents 4.92% of the company.
In their previous filing dated February 11, 2022 they reported 0.97MM shares and 6.30% of the company, a decrease in shares of 19.91% and a decrease in total ownership of 1.38% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 50.90% Upside
As of February 12, 2023, the average one-year price target for Computer Task Group is $11.35. The forecasts range from a low of $9.34 to a high of $13.65. The average price target represents an increase of 50.90% from its latest reported closing price of $7.52.
The projected annual revenue for Computer Task Group is $328MM, a decrease of 8.91%. The projected annual EPS is $0.65, a decrease of 33.87%.
What is the Fund Sentiment?
There are 93 funds or institutions reporting positions in Computer Task Group. This is an increase of 3 owner(s) or 3.33% in the last quarter. Average portfolio weight of all funds dedicated to CTG is 0.22%, an increase of 2.87%. Total shares owned by institutions increased in the last three months by 1.04% to 9,753K shares. The put/call ratio of CTG is 0.05, indicating a bullish outlook.
What are large shareholders doing?
Royce & Associates holds 1,569K shares representing 9.99% ownership of the company. In it's prior filing, the firm reported owning 1,393K shares, representing an increase of 11.21%. The firm decreased its portfolio allocation in CTG by 3.17% over the last quarter.
Minerva Advisors holds 1,256K shares representing 8.00% ownership of the company. In it's prior filing, the firm reported owning 1,232K shares, representing an increase of 1.95%. The firm decreased its portfolio allocation in CTG by 14.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 555K shares representing 3.53% ownership of the company. In it's prior filing, the firm reported owning 610K shares, representing a decrease of 9.93%. The firm decreased its portfolio allocation in CTG by 25.78% over the last quarter.
Lewis Capital Management holds 385K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 387K shares, representing a decrease of 0.54%. The firm increased its portfolio allocation in CTG by 11.82% over the last quarter.
RYOTX - Royce Micro-Cap Fund Investment Class holds 329K shares representing 2.09% ownership of the company. No change in the last quarter.
Computer Task Group Background Information
(This description is provided by the company.)
CTG is a leading provider of digital transformation solutions and services that accelerate clients' project momentum and achievement of their desired IT and business outcomes. We have earned a reputation as a reliable, results-driven partner focused on improved data-driven decision-making, meaningful business performance improvements, new and enhanced customer experiences, and continuous innovation. CTG has operations in North America, South America, Western Europe, and India.
This story originally appeared on Fintel.