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Computer Task Group, Incorporated (CTG), listed under the symbol CTG on Nasdaq, is a prominent provider of IT services, solutions, and staffing. For over 50 years, CTG has built a reputation for reliability and results, serving diverse industries such as healthcare, finance, government, technology, and telecom. Our offerings encompass the entire IT business solution lifecycle, including planning, developing, implementing, managing, and maintaining IT solutions.
CTG excels in helping clients assess their business needs and identify the appropriate IT solutions. Our services include the selection and implementation of packaged software, as well as the design, construction, testing, and integration of new systems. Additionally, we offer comprehensive IT staffing services—from recruiting and retaining IT talent to managing staff for both large organizations and smaller firms with specific IT needs.
Currently, CTG is actively engaged in digital transformation projects across North America, South America, Western Europe, and India. Our commitment to digital transformation has driven significant improvements in data-driven decision-making, business performance, and customer experiences.
Recent achievements for CTG include notable financial performance, with revenue of $325 million in 2022 and $306 million in trailing 12-month revenue as of June 30, 2023. We are also proud to announce a strategic acquisition by Cegeka, a leading European IT solutions provider. This merger promises to enhance our service portfolio and capabilities, aligning with Cegeka’s vision to become a global IT integrator.
CTG's second quarter 2023 financial results will be released on August 9, 2023, with a conference call and webcast to follow. Furthermore, CTG's recent performance highlights include improved gross margins and a stronger digital solutions mix, demonstrating our successful execution of our transformation strategy.
Latest News:
- On August 2, 2023, CTG announced the release of its second quarter 2023 results.
- On August 9, 2023, Cegeka agreed to acquire CTG for $10.50 per share, a deal valued at approximately $170 million.
- CTG reported its third quarter 2023 financial results on November 8, 2023, showing a robust improvement in gross margins despite challenging market conditions.
CTG (NASDAQ: CTG) announced the appointment of Katie Stein to its Board of Directors, filling the vacancy left by Owen Sullivan's retirement. Stein, currently Chief Strategy Officer at Genpact, brings significant experience in mergers and acquisitions, enhancing CTG's strategic direction. CTG's Chairman, Dan Sullivan, expressed confidence in Stein's ability to drive CTG’s digital solutions business forward. The Board will also see other changes at the upcoming annual meeting, consolidating its focus on growth and execution of strategic plans.
CTG (NASDAQ: CTG) announced that President and CEO Filip Gydé and CFO John Laubacker will present at the Sidoti Virtual Microcap Conference on May 20, 2021, at 12:15 p.m. ET. The management team will also meet with investors throughout the day. A live and archived webcast of the presentation will be available in the Investor Relations section of CTG’s website. CTG specializes in digital transformation solutions across North America and Western Europe, enhancing clients' IT and business outcomes.
CTG reported a strong Q1 2021 performance with total revenue of $97.1 million, up 12% year-over-year. Solutions revenue surged 25%, contributing 44% of total revenue. GAAP EPS increased 25% to $0.10, while non-GAAP EPS rose 30% to $0.13. Gross profit improved 21.8% to $20.8 million, marking a gross margin of 21.4%. The company achieved net income of $1.5 million and maintained cash reserves of $33.5 million with no debt. However, revenue declined 4.2% sequentially due to fewer billable days and the conclusion of a major contract.
CTG (NASDAQ: CTG) will report its first quarter 2021 financial results on April 29, 2021, prior to market opening. Following the release, a conference call is scheduled for 11:00 a.m. Eastern Time to discuss the results and outlook. Interested participants can join via phone or through a live audio webcast on CTG’s website. A replay of the call will be available for a limited time. CTG provides digital transformation solutions, focusing on data-driven decision-making and client performance improvements.
CTG (NASDAQ: CTG), a leading IT service provider, announced its participation in the Sidoti Spring 2021 Virtual Conference. Presenters Filip Gyde, President and CEO, and John Laubacker, Executive VP and CFO, will speak on March 25 at 9:15 a.m. ET. They will also engage with investors throughout the day. The presentation will be accessible via a live and archived webcast on CTG’s Investor Relations page. CTG specializes in IT solutions that drive digital transformation for clients in North America and Western Europe.
CTG (NASDAQ: CTG) has announced an updated brand and tagline, “Transformation Accelerated,” to reflect its commitment to enhance client success through advanced digital solutions. Following its fiscal year 2020 results, CTG focuses on improving profitability with key investments in digital transformation, including industry-leading talent and breakthrough offerings across various domains. The company emphasizes its role as a trusted partner for clients navigating digital initiatives, aiming to drive tangible business performance improvements.
CTG (NASDAQ: CTG) reported strong financial results for Q4 2020, with total revenue reaching $101.3 million, a 14.3% increase from Q3. Solutions revenue rose to $42.8 million, accounting for 42.2% of total revenue. Operating margin improved 120 basis points to 3.3%. Full-year GAAP net income increased 85% to $7.6 million, with GAAP EPS of $0.53. Cash balances stood at $32.9 million, and the company ended 2020 with no long-term debt. Despite positive results, CTG did not provide 2021 guidance due to COVID-19 uncertainties.
CTG (NASDAQ: CTG) announces it will release its fourth quarter and fiscal year 2020 financial results on February 23, 2021, before market opening. A conference call discussing the results will follow at 11:00 a.m. ET. Investors can join via telephone or listen to a live webcast on CTG's website. A replay of the call will be available for a limited time afterward. CTG offers IT solutions across North America and Western Europe, focusing on enhancing digital transformation and business performance.
CTG Announces Leadership Change
CTG (NASDAQ: CTG) has appointed Olivier Saucin as Vice President of Global Solutions, tasked with enhancing digital transformation solutions. With over 20 years at CTG, Saucin's leadership will drive the development and execution of the company's global solutions strategy. Notably, he previously led initiatives that tripled the growth of IT service management in Europe. President and CEO Filip Gydé praised Saucin's innovative solutions approach as pivotal for expanding CTG's offerings across new market verticals.
CTG appoints Raj Rajgopal to its Board of Directors, effective December 20, 2020, marking a strategic move to enhance its digital transformation initiatives. Rajgopal, with over 30 years of experience, previously led Virtusa Corporation's growth from $170 million to over $800 million in annual revenues. Chairman Daniel J. Sullivan emphasizes Rajgopal’s expertise in digital strategies as a valuable addition. Following this appointment, the Board temporarily expands to seven directors, with a planned reduction to six at the 2021 Annual Meeting.
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