Alithya Group (NYSE:ALYA) Cut to Hold at Zacks Investment Research

Alithya Group (NYSE:ALYA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Alithya Group Inc. provides digital strategies and technologies primarily in North America. The company’s integrated offering is based on strategy services, Microsoft and Oracle technologies and custom solutions. The company serves primarily in the financial, manufacturing, retail and distribution, telecommunications, transportation, professional services, health and government sectors. It operates principally in Canada, the United States and Europe. Alithya Group Inc., formerly known as Edgewater Technology Inc., is based in Montreal, Canada. “

Separately, National Bank Financial reaffirmed an “outperfrom under weight” rating on shares of Alithya Group in a research note on Wednesday, September 11th.

Shares of ALYA stock traded up $0.04 on Wednesday, reaching $2.77. The company had a trading volume of 300 shares, compared to its average volume of 20,549. The company has a 50-day moving average of $2.87 and a 200-day moving average of $2.94. Alithya Group has a 12 month low of $2.25 and a 12 month high of $6.00.

Alithya Group (NYSE:ALYA) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $53.99 million during the quarter, compared to the consensus estimate of $56.25 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALYA. Intact Investment Management Inc. increased its stake in Alithya Group by 4.9% during the 2nd quarter. Intact Investment Management Inc. now owns 574,000 shares of the company’s stock worth $2,049,000 after purchasing an additional 27,000 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its position in Alithya Group by 62.6% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 33,509 shares of the company’s stock worth $89,000 after acquiring an additional 12,900 shares during the last quarter. Bank of Montreal Can boosted its position in Alithya Group by 272.2% during the 2nd quarter. Bank of Montreal Can now owns 31,450 shares of the company’s stock worth $82,000 after acquiring an additional 23,000 shares during the last quarter. Fiera Capital Corp boosted its position in Alithya Group by 97.7% during the 2nd quarter. Fiera Capital Corp now owns 1,439,956 shares of the company’s stock worth $3,904,000 after acquiring an additional 711,456 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Alithya Group by 2.1% during the 2nd quarter. Renaissance Technologies LLC now owns 798,176 shares of the company’s stock worth $2,091,000 after acquiring an additional 16,500 shares during the last quarter.

Alithya Group Company Profile

Alithya Group Inc provides strategy and digital technology services in Canada, the United States, and Europe. The company's digital strategy and transformation services include strategic consulting and organizational change, governance and strategic alignment, investment management, collaborative management and co-management, business and enterprise architecture, managing the people side of change, and project management.

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