Ankündigung • Dec 27
Computer Task Group Files Form 15 Computer Task Group, Incorporated has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.01 per share. Ankündigung • Dec 14
Computer Task Group, Incorporated(NasdaqGS:CTG) dropped from NASDAQ Composite Index Computer Task Group, Incorporated removed. Ankündigung • Aug 11
CTG to Become A Privately Held Company, and Shares of CTG Common Stock Will No Longer Be Listed on Any Public Market Cegeka Groep nv ("Cegeka") and Computer Task Group, Incorporated ("CTG") announced that they have entered into a definitive agreement under which Cegeka agreed to acquire CTG for $10.50 per share of common stock in an all-cash transaction, representing an implied equity value of approximately $170 million. Under the terms of the merger agreement, a wholly owned subsidiary of Cegeka will commence a tender offer to acquire all outstanding shares of CTG for $10.50 per share of common stock in cash, representing an implied equity value of approximately $170 million. The offer price represents a 44.8% premium to the trailing 90-day volume weighted average stock price as of August 7, 2023. Both the Cegeka and CTG board of directors unanimously approved the merger agreement. In connection with the execution of the merger agreement, certain CTG's directors and executive officers, holding approximately 8.8% in the aggregate of CTG's outstanding shares, entered into an agreement in which they agreed to tender all their shares in the tender offer. The closing of the transaction will be subject to customary conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least two-thirds of CTG's outstanding common stock in the tender offer, as required by the merger approval requirements under applicable New York law. Upon the successful completion of the tender offer, Cegeka would acquire any shares of CTG's common stock not tendered through a second-step merger effected for the same per common share consideration. The transaction is expected to close later in 2023. Upon the successful completion of the tender offer, Cegeka's acquisition subsidiary will be merged into CTG, and any remaining shares of common stock of CTG will be canceled and converted into the right to receive the same $10.50 per share in cash. After closing, CTG will become a privately held company, and shares of CTG common stock will no longer be listed on any public market. Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$0.009 loss per share (down from US$0.14 profit in 2Q 2022). Revenue: US$74.6m (down 9.9% from 2Q 2022). Net loss: US$130.0k (down 106% from profit in 2Q 2022). Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to US$10.20, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 21x in the IT industry in the US. Total returns to shareholders of 116% over the past three years. Ankündigung • Aug 03
Computer Task Group, Incorporated to Report Q2, 2023 Results on Aug 09, 2023 Computer Task Group, Incorporated announced that they will report Q2, 2023 results Pre-Market on Aug 09, 2023 Ankündigung • Jul 24
Computer Task Group, Incorporated, Annual General Meeting, Dec 19, 2023 Computer Task Group, Incorporated, Annual General Meeting, Dec 19, 2023, at 10:00 US Eastern Standard Time. Location: Company’s headquarters at 300 Corporate Parkway, Suite 214N Amherst New York United States Major Estimate Revision • May 16
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$318.0m to US$312.7m. EPS estimate also fell from US$0.39 per share to US$0.34 per share. Net income forecast to grow 27% next year vs 15% growth forecast for IT industry in the US. Consensus price target of US$12.00 unchanged from last update. Share price fell 2.3% to US$6.36 over the past week. Ankündigung • May 10
Computer Task Group, Incorporated Provides Earnings Guidance for the 2023 Computer Task Group, Incorporated provided earnings guidance for the 2023. For the year, the company expects Revenue of $310 million to $340 million. IT Solutions and Services Revenue $265 million to $285 million and GAAP diluted EPS of $0.34 to $0.42. Reported Earnings • May 10
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: US$0.021 (down from US$0.16 in 1Q 2022). Revenue: US$78.2m (down 13% from 1Q 2022). Net income: US$315.0k (down 86% from 1Q 2022). Profit margin: 0.4% (down from 2.5% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 67%. Revenue is forecast to grow 4.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Feb 24
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$0.46 (down from US$0.99 in FY 2021). Revenue: US$325.1m (down 17% from FY 2021). Net income: US$6.61m (down 52% from FY 2021). Profit margin: 2.0% (down from 3.5% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 1.8% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 24
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$328.0m to US$318.0m. EPS estimate also fell from US$0.63 per share to US$0.52 per share. Net income forecast to shrink 45% next year vs 18% growth forecast for IT industry in the US . Consensus price target down from US$13.00 to US$12.00. Share price rose 2.0% to US$7.51 over the past week. Price Target Changed • Feb 22
Price target decreased by 7.7% to US$12.00 Down from US$13.00, the current price target is provided by 1 analyst. New target price is 65% above last closing price of US$7.28. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$0.46 for next year compared to US$0.99 last year. Ankündigung • Feb 10
Computer Task Group, Incorporated to Report Q4, 2022 Results on Feb 23, 2023 Computer Task Group, Incorporated announced that they will report Q4, 2022 results Pre-Market on Feb 23, 2023 Reported Earnings • Nov 09
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: US$0.076 (down from US$0.12 in 3Q 2021). Revenue: US$75.0m (down 17% from 3Q 2021). Net income: US$1.10m (down 34% from 3Q 2021). Profit margin: 1.5% (down from 1.8% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 11% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 05
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: US$0.14 (up from US$0.13 in 2Q 2021). Revenue: US$82.8m (down 10% from 2Q 2021). Net income: US$2.04m (up 11% from 2Q 2021). Profit margin: 2.5% (up from 2.0% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 2.7%, compared to a 14% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 10
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: US$0.16 (up from US$0.11 in 1Q 2021). Revenue: US$89.4m (down 7.9% from 1Q 2021). Net income: US$2.24m (up 49% from 1Q 2021). Profit margin: 2.5% (up from 1.6% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates by 25%. Over the next year, revenue is forecast to grow 3.2%, compared to a 15% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to US$14.00 Up from US$13.00, the current price target is provided by 1 analyst. New target price is 52% above last closing price of US$9.24. Stock is down 10% over the past year. The company is forecast to post earnings per share of US$0.62 for next year compared to US$0.99 last year. Buying Opportunity • Apr 15
Now 20% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be US$12.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 6.4% in 2 years. Earnings is forecast to decline by 15% in the next 2 years. Buying Opportunity • Mar 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.0%. The fair value is estimated to be US$12.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 6.4% in 2 years. Earnings is forecast to decline by 15% in the next 2 years. Reported Earnings • Feb 24
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: US$0.99 (up from US$0.56 in FY 2020). Revenue: US$392.3m (up 7.2% from FY 2020). Net income: US$13.7m (up 80% from FY 2020). Profit margin: 3.5% (up from 2.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 88%. Over the next year, revenue is forecast to grow 2.5%, compared to a 19% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improved over the past week After last week's 22% share price gain to US$9.87, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 29x in the IT industry in the US. Total returns to shareholders of 128% over the past three years. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS US$0.12 (vs US$0.21 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$90.6m (up 2.2% from 3Q 2020). Net income: US$1.67m (down 41% from 3Q 2020). Profit margin: 1.8% (down from 3.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Executive Departure • Sep 21
Non-Executive Chairman & Lead Independent Director Daniel Sullivan has left the company On the 16th of September, Daniel Sullivan's tenure as Non-Executive Chairman & Lead Independent Director ended. As of June 2021, Daniel still personally held 351.51k shares (US$3.4m worth at the time). Daniel is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.42 years. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$0.13 (vs US$0.13 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: US$92.2m (up 3.4% from 2Q 2020). Net income: US$1.83m (up 4.2% from 2Q 2020). Profit margin: 2.0% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 29
Price target increased to US$14.00 Up from US$13.00, the current price target is provided by 1 analyst. New target price is 56% above last closing price of US$8.99. Stock is up 87% over the past year. Price Target Changed • Apr 18
Price target increased to US$13.00 Up from US$10.00, the current price target is provided by 1 analyst. New target price is 15% above last closing price of US$11.26. Stock is up 184% over the past year. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS US$0.56 (vs US$0.31 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$366.1m (down 7.1% from FY 2019). Net income: US$7.64m (up 85% from FY 2019). Profit margin: 2.1% (up from 1.0% in FY 2019). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 24
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 1.2%, compared to a 31% growth forecast for the IT industry in the US. Is New 90 Day High Low • Feb 24
New 90-day high: US$7.31 The company is up 11% from its price of US$6.57 on 25 November 2020. The American market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 7.0% over the same period. Price Target Changed • Jan 21
Price target raised to US$9.00 Up from US$8.00, the current price target is provided by 1 analyst. The new target price is 33% above the current share price of US$6.76. As of last close, the stock is up 13% over the past year. Recent Insider Transactions • Nov 17
Independent Director recently bought US$63k worth of stock On the 13th of November, James Helvey bought around 10k shares on-market at roughly US$6.26 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 16% share price gain to US$7.03, the stock is trading at a trailing P/E ratio of 12.9x, up from the previous P/E ratio of 11.2x. This compares to an average P/E of 37x in the IT industry in the US. Total returns to shareholders over the past three years are 34%. Is New 90 Day High Low • Nov 12
New 90-day high: US$6.15 The company is up 29% from its price of US$4.78 on 14 August 2020. The American market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 4.0% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS US$0.21 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$88.6m (down 8.8% from 3Q 2019). Net income: US$2.83m (up 222% from 3Q 2019). Profit margin: 3.2% (up from 0.9% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 27
New 90-day high: US$5.88 The company is up 26% from its price of US$4.68 on 28 July 2020. The American market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Oct 27
Market bids up stock over the past week After last week's 17% share price gain to US$5.88, the stock is trading at a trailing P/E ratio of 10.8x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 32x in the IT industry in the US. Total returns to shareholders over the past three years are 17%. Major Estimate Revision • Oct 27
Analysts increase EPS estimates to US$0.50 The 2020 consensus revenue estimate increased from US$354.1m to US$358.2m. The earnings per share estimate also received an upgrade from US$0.32 to US$0.50 for the same period. Net income is expected to shrink by 21% next year compared to 8.5% growth forecast for the IT industry in the US . The consensus price target of US$8.00 was unchanged from the last update. Share price is up 17% to US$5.88 over the past week.