Legion Partners Asset Management LLC purchased a new position in shares of Ciber, Inc. (NYSE:CBR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,806,107 shares of the company’s stock, valued at approximately $6,195,000. Ciber accounts for approximately 3.9% of Legion Partners Asset Management LLC’s portfolio, making the stock its 9th largest position. Legion Partners Asset Management LLC owned 12.01% of Ciber at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the stock. First New York Securities LLC NY acquired a new stake in Ciber during the third quarter worth $256,000. State Street Corp increased its position in shares of Ciber by 25.1% in the fourth quarter. State Street Corp now owns 302,992 shares of the company’s stock valued at $190,000 after buying an additional 60,784 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Ciber during the fourth quarter valued at approximately $938,000. Finally, Lapides Asset Management LLC increased its position in shares of Ciber by 74.1% in the second quarter. Lapides Asset Management LLC now owns 2,148,900 shares of the company’s stock valued at $3,223,000 after buying an additional 914,900 shares in the last quarter. Institutional investors own 55.43% of the company’s stock.
Ciber, Inc. (NYSE:CBR) traded down 8.3927% during mid-day trading on Friday, hitting $0.3602. 2,297,594 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $0.58 and its 200-day moving average price is $0.93. Ciber, Inc. has a 12 month low of $0.22 and a 12 month high of $2.82. The stock’s market cap is $29.41 million.
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CBR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Ciber from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. B. Riley restated a “neutral” rating and set a $1.00 price objective on shares of Ciber in a research report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $2.22.
In related news, major shareholder Legion Partners Asset Manageme bought 512,100 shares of Ciber stock in a transaction dated Thursday, November 17th. The stock was purchased at an average cost of $0.65 per share, with a total value of $332,865.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.20% of the stock is owned by corporate insiders.
Ciber Company Profile
Ciber, Inc (Ciber) is a global information technology (IT) services company. The Company operates in two segments: North America and International. Its Ciber International segment primarily consists of countries in Western Europe and the Nordic region. Its North America segment is organized into service offerings, which include Independent Software Vendor Relationships (ISV)/Channel Partner Platforms, Managed Services, Business Consulting, Application Development and Management (ADM)/Staffing, and Software-as-a-Service (SaaS).
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