Minerva Advisors buys $4.9 Million stake in Computer Task Group (CTG)

Computer Task Group (CTG) : Minerva Advisors scooped up 308,900 additional shares in Computer Task Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 980,387 shares of Computer Task Group which is valued at $4.9 Million.Computer Task Group makes up approximately 3.27% of Minerva Advisors’s portfolio.

Other Hedge Funds, Including , O’shaughnessy Asset Management boosted its stake in CTG in the latest quarter, The investment management firm added 1,638 additional shares and now holds a total of 2,037 shares of Computer Task Group which is valued at $10,124. Boston Partners sold out all of its stake in CTG during the most recent quarter. The investment firm sold 419,561 shares of CTG which is valued $2.1 Million.Mufg Americas Holdings Corp reduced its stake in CTG by selling 840 shares or 40.38% in the most recent quarter. The Hedge Fund company now holds 1,240 shares of CTG which is valued at $6,163. Algert Global sold out all of its stake in CTG during the most recent quarter. The investment firm sold 14,380 shares of CTG which is valued $71,469.

Computer Task Group opened for trading at $5.25 and hit $5.26 on the upside on Wednesday, eventually ending the session at $5.21, with a gain of 0.77% or 0.04 points. The heightened volatility saw the trading volume jump to 9,899 shares. Company has a market cap of $99 M.

On the company’s financial health, Computer Task Group reported $0.04 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $0.04. The company had revenue of $85.90 million for the quarter, compared to analysts expectations of $86.88 million. The company’s revenue was down -11.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Investors should note that on May 6, 2016, Computer Task Group announced a cash dividend of $0.0600. The company’s management has announced Jun 20, 2016 as the ex-dividend date and fixed the record date on Jun 22, 2016. The payable date has been fixed on Jul 6, 2016.

Computer Task Group Incorporated (CTG) is an information technology (IT) solutions and staffing services company with operations in North America and Europe. The Company is engaged in providing IT services including IT Solutions and IT Staffing. CTG’s delivery of services includes the selection and implementation of packaged software and the design development testing and integration of new systems and the development and implementation of software and solutions designed for a specific client or vertical market. CTG recruits retains and manages IT and other talent for its clients including technology service providers and companies with multiple locations and need for external IT administrative or warehouse resources. CTG provides these primary services to four vertical market focus areas: healthcare which includes services provided to healthcare providers health insurers (payers) and life sciences companies; technology service providers; financial services and energy.

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