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Computer Task Group, Incorporated

Logo: Quelle konvertiert von Marsupilami, Public domain, via Wikimedia Commons4

American IT staffing company

Computer Task Group, Inc. (commonly referred to as CTG) is an American multinational company headquartered in Buffalo, New York, that provides information technology staffing. December 2023, it was announced that Cegeka concluded the purchase of the majority stake (74%) in CTG.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1966Founded1

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  • TickerCTG on NASDAQ1
  • IndustryServices-Computer Programming Services1
  • HeadquartersBuffalo1
  • Websitewww.ctg.com
  • Incorporated inNY5
  • Business address300 Corporate Parkway, Suite 214 N, Amherst, Ny 142265
  • Filer categoryAccelerated filer, Smaller reporting company5

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Computer Task Group, Inc. (commonly referred to as CTG) is an American multinational company headquartered in Buffalo, New York, that provides information technology staffing. December 2023, it was announced that Cegeka concluded the purchase of the majority stake (74%) in CTG.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

24.6%Gross margin7
3.4%Operating margin7
2.0%Net margin7
-17.1%Revenue growth, 20227
6.2%Return on equity7
$10.9MFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Selling, general and admin21¢$69.0M
  • Other costs76¢$246.5M
  • Income tax1¢$2.9M
  • Profit2¢$6.6M

Out of $325.1M in revenue.7

Where each dollar of operating cash went, fiscal 2022

  • Capital spending8¢$1.0M
  • Kept or used elsewhere92¢$10.9M

Out of $11.9M of cash from operations.7

Financial statements

Revenue8910117$325.1M in 2022+0% since 2016
0$100.0M$200.0M$300.0M$400.0M2016: $324.9M$324.9M20162017: $301.2M$301.2M2017−7%2018: $358.8M$358.8M2018+19%2019: $394.2M$394.2M2019+10%2020: $366.1M$366.1M2020−7%2021: $392.3M$392.3M2021+7%2022: $325.1M$325.1M2022−17%
Gross profit1289117$80.1M in 2022+35% since 2016
0$25.0M$50.0M$75.0M$100.0M2016: $59.2M$59.2M20162017: $56.0M$56.0M2017−5%2018: $68.5M$68.5M2018+22%2019: $75.0M$75.0M2019+10%2020: $77.0M$77.0M2020+3%2021: $86.5M$86.5M2021+12%2022: $80.1M$80.1M2022−7%
Operating income8910117$11.1M in 2022
-$40.0M-$20.0M0$20.0M2016: -$32.9M-$32.9M20162017: $4.2M$4.2M20172018: $2.1M$2.1M2018−50%2019: $6.9M$6.9M2019+232%2020: $9.1M$9.1M2020+32%2021: $12.7M$12.7M2021+40%2022: $11.1M$11.1M2022−13%
Net income8910117$6.6M in 2022
-$40.0M-$20.0M0$20.0M2016: -$34.6M-$34.6M20162017: $806.0K$806.0K20172018: -$2.8M-$2.8M20182019: $4.1M$4.1M20192020: $7.6M$7.6M2020+85%2021: $13.7M$13.7M2021+80%2022: $6.6M$6.6M2022−52%
Fiscal year2016201720182019202020212022
Revenue$324.9M8$301.2M9$358.8M10$394.2M11$366.1M7$392.3M7$325.1M7
Gross profit$59.2M12$56.0M8$68.5M9$75.0M11$77.0M7$86.5M7$80.1M7
Selling, general and admin$54.8M8$51.8M9$66.4M10$68.1M11$67.8M7$73.7M7$69.0M7
Operating expenses$40.1M7$35.8M7
Operating income-$32.9M8$4.2M9$2.1M10$6.9M11$9.1M7$12.7M7$11.1M7
Income before tax$11.7M7$9.6M7
Income tax$1.1M8$3.3M9$5.1M10$2.2M11$3.0M7-$2.0M7$2.9M7
Net income-$34.6M8$806.0K9-$2.8M10$4.1M11$7.6M7$13.7M7$6.6M7
Earnings per share-$2.228$0.059-$0.2010$0.3111$0.567$0.997$0.467
Earnings per share (diluted)-$2.228$0.059-$0.2010$0.2911$0.537$0.927$0.447
Shares (weighted, basic)13.9M shares714.4M shares7
Shares (weighted, diluted)15.0M shares715.2M shares7

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Corporate structure

Computer Task Group, Incorporated sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Computer Task Group, Incorporated

  • DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on Computer Task Group, Incorporated, latest Feb 9, 2024 (3 filings since Feb 8, 2022)
  • ROYCE & ASSOCIATES LP Filed SC 13G/A on Computer Task Group, Incorporated, latest Sep 6, 2023 (4 filings since Jan 14, 2022)
  • ASKELADDEN CAPITAL MANAGEMENT LLC Filed SC 13D/A on Computer Task Group, Incorporated, latest Aug 21, 2023 (2 filings since Mar 10, 2023)
  • Minerva Advisors LLC Filed SC 13G/A on Computer Task Group, Incorporated, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • RENAISSANCE TECHNOLOGIES LLC Filed SC 13G/A on Computer Task Group, Incorporated, latest Feb 13, 2023 (2 filings since Feb 11, 2022)
  • VANGUARD GROUP INC Filed SC 13G on Computer Task Group, Incorporated, latest Feb 9, 2023 (2 filings since Feb 9, 2022)
  • Computer Task Group, Incorporated Buffalo

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Computer Task Group, Incorporated reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$15.1M7 Dec 31, 2022$15.6M7 Dec 31, 2021−3.5%
Accumulated depreciation$10.0M7 Dec 31, 2022$10.4M7 Dec 31, 2021−3.5%
Property and equipment, net$5.1M7 Dec 31, 2022$5.2M7 Dec 31, 2021−3.5%
Operating-lease assets (leased space)$18.5M7 Dec 31, 2022$22.1M7 Dec 31, 2021−16.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$25.1M7 Dec 31, 2022$35.6M7 Dec 31, 2021−29.4%
Long-term investments$116.0K7 Dec 31, 2022$47.0K7 Dec 31, 2021+146.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$36.0M7 Dec 31, 2022$19.7M7 Dec 31, 2021+83.0%
Finite-lived intangibles, gross$19.9M7 Dec 31, 2022$12.6M7 Dec 31, 2021+57.5%
Accumulated amortization-$5.6M7 Dec 31, 2022-$4.7M7 Dec 31, 2021−19.4%
Finite-lived intangibles, net$12.9M7 Dec 31, 2022$7.3M7 Dec 31, 2021+77.8%

The story

Initially known as Marks-Baer Inc. (MBTI), the company was founded in 1966 by Randolph A. Marks and G. David Baer, two former employees of IBM, in Buffalo, New York. MBI's initial market was the medical industry, since both founders had experience in that area.

A year after its staff grew to 20 employees and its name was changed to Computer Task Group Inc. (CTG), the firm went public in 1969. Six years later, it decided to become a national company. CTG accelerated growth through acquisitions beginning in 1980 and within 5 years, acquired 15 companies.

In 1986, it made its first international acquisition, Shubrook International, Ltd., a software consulting firm based in Chertsey, England. In 2018, five years after purchasing etrinity N.V., a healthcare IT company in Belgium, CTG acquired Soft Company, a consulting and digital services company headquartered in Paris, France.

In August 2023, it was announced CTG had been acquired by the Hasselt-headquartered IT services and consultancy company, Cegeka for $107 million. In December, it was announced that the acquisition had been completed.

Divestitures

Profimatics Inc. (1994)

From Wikipedia’s article on Computer Task Group, shared under CC BY-SA 4.0.6

Leadership

Who has led Computer Task Group, Incorporated, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. James R. Boldt2006–2014
  2. Brendan M. Harrington2015
  3. Cliff Bleustein2015–2016
  4. Arthur W. Crumlish2016–2019
  5. Filip J. L. Gyde2019–2023

Chair

  1. James R. Boldt2006–2012
  2. Daniel J. Sullivan2020–2021

President

  1. Arthur W. Crumlish2010
  2. James R. Boldt2014
  3. Cliff Bleustein2015
  4. Filip J. L. Gyde2022

Chief financial officer

  1. Brendan M. Harrington2006–2017
  2. John M. Laubacker2017–2023
197019801990200020102020
Board members and other officers (29)

Products and brands

CTG develops IT for companies in several industries including healthcare and technology services, and provides managed services IT staffing for technology companies and large corporations. The company concentrates on the financial services, telecommunications, government, industry, life sciences, and healthcare sectors. The scope of offered services includes development and integration, application management, information security, system and process assessment, and IT consulting.

CTG Belgium created a software testing methodology called FASTBoX (Framework for Automated Software Testing Based On eXperience).

Operations

CTG operates in North America (US and Canada), Western Europe (Belgium, Luxembourg, United Kingdom and France), and India. It counts about 451 clients; its largest clients are IBM and SDI International. As of December 2019, the company employs approximately 3,950 people worldwide, with 2,650 in the United States and Canada and 1,300 in Europe.

In 2018, the company operated 9 subsidiaries:

From Wikipedia’s article on Computer Task Group, shared under CC BY-SA 4.0.6

Timeline

  1. Dec 13, 20238-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer55
  2. Nov 8, 20238-K Results of operations56
  3. Aug 9, 20238-K Entered a material agreement; New debt or obligation; Unregistered sale of shares57
  4. Aug 9, 20238-K Results of operations58
  5. Aug 2, 20238-K Regulation FD disclosure59
  6. Jul 21, 20238-K Other events60
  7. Jun 1, 20238-K Regulation FD disclosure61
  8. May 18, 20238-K Results of operations62
  9. May 9, 20238-K Results of operations63
  10. Apr 25, 20238-K Regulation FD disclosure64
  11. Feb 23, 20238-K Results of operations65
  12. Feb 9, 20238-K Regulation FD disclosure66
  13. Mar 5, 2019New chief executive Filip J. L. Gyde becomes CEO18
  14. Aug 11, 2016New chief executive Arthur W. Crumlish becomes CEO19
  15. Apr 6, 2015New chief executive Cliff Bleustein becomes CEO21
  16. Jan 5, 2015New chief executive Brendan M. Harrington becomes CEO20
  17. Jun 23, 2006New chief executive James R. Boldt becomes CEO22
  18. 1966Founded Founded1

Calendar

When it reported results

  1. Nov 8, 2023Reported quarterly or annual results56
  2. Aug 9, 2023Reported quarterly or annual results58
  3. May 18, 2023Reported quarterly or annual results62
  4. May 9, 2023Reported quarterly or annual results63
  5. Feb 23, 2023Reported quarterly or annual results65
  6. Nov 8, 2022Reported quarterly or annual results67
  7. Aug 4, 2022Reported quarterly or annual results68
  8. May 10, 2022Reported quarterly or annual results69

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

181 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 28 major events, 81 insider forms, 15 large holders, 48 other. The latest 20:

  1. Feb 9, 2024SC 13G/A SEC SCHEDULE 13G EDGAR
  2. Dec 26, 202315-12G EDGAR
  3. Dec 14, 2023S-8 POS EDGAR
  4. Dec 14, 2023S-8 POS EDGAR
  5. Dec 14, 2023S-8 POS EDGAR
  6. Dec 14, 2023S-8 POS EDGAR
  7. Dec 14, 2023S-8 POS EDGAR
  8. Dec 14, 2023S-8 POS EDGAR
  9. Dec 14, 2023S-8 POS EDGAR
  10. Dec 14, 2023S-8 POS EDGAR
  11. Dec 14, 2023S-8 POS EDGAR
  12. Dec 14, 2023S-8 POS EDGAR
  13. Dec 14, 2023S-8 POS EDGAR
  14. Dec 14, 2023S-8 POS EDGAR
  15. Dec 14, 2023S-8 POS EDGAR
  16. Dec 14, 2023S-8 POS EDGAR
  17. Dec 14, 2023S-8 POS EDGAR
  18. Dec 14, 2023S-8 POS EDGAR
  19. Dec 14, 2023S-8 POS EDGAR
  20. Dec 14, 2023S-8 POS EDGAR

The 181 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Computer Task Group, Incorporated is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCOMPUTER TASK GROUP INC2
  • CIK0000023111
  • Employer ID (EIN)16-09126322
  • Filer statusAccelerated filer<br>smaller reporting company2
  • Incorporated inNew York2
  • Fiscal year endsDecember 312
  • Industry code (SIC)7371 Services-Computer Programming Services2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address300 Corporate Parkway, Suite 214 N, Amherst, NY 142262
  • Phone71688280002
  • Shares outstanding16,094,564 as of Nov 2, 202315
  • Public float$132.1M as of Jul 1, 20227
  • On EDGAR sinceFeb 13, 19952
  • Filings2,020 in all: 4 (1,147), 8-K (364), SC 13G/A (105), 10-Q (87), SC 13G (29), DEF 14A (28), 10-K (24), 11-K (23)2
    All 43 form types

    5 (23), 3 (22), S-8 POS (21), S-8 (17), 4/A (16), SC 13D/A (16), UPLOAD (13), CORRESP (12), ARS (11), SC 14D9/A (9), SC TO-T/A (7), SC 13D (6), 10-K405 (4), 8-K/A (4), SC TO-I/A (4), 8-A12B/A (3), SC TO-C (3), SC14D9C (3), 10-Q/A (2), PRE 14A (2), 10-K/A (1), 15-12G (1), 25 (1), 25-NSE (1), 3/A (1), DEFA14A (1), DEFR14A (1), NO ACT (1), NT 11-K (1), PX14A6G (1), S-3 (1), S-3/A (1), SC 14D9 (1), SC TO-I (1), SC TO-T (1)

  • Latest filingsAnnual report (10-K) Mar 15, 2023
    Quarterly report (10-Q) Nov 8, 2023
    Proxy statement (DEF 14A) Aug 17, 2022
    Latest 8-K (8-K) Dec 13, 2023

Sources

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