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

Zacks Investment Research upgraded shares of Alithya Group (NYSE:ALYA) from a strong sell rating to a hold rating in a report issued on Thursday, 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. “

ALYA opened at $2.83 on Thursday. The stock has a 50-day moving average price of $2.85 and a 200-day moving average price of $2.95. Alithya Group has a 1 year low of $2.25 and a 1 year high of $6.00.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Alpha Capital Management Ltd. raised its position in shares of Alithya Group by 62.6% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 33,509 shares of the company’s stock worth $89,000 after purchasing an additional 12,900 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Alithya Group by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 798,176 shares of the company’s stock worth $2,091,000 after purchasing an additional 16,500 shares during the last quarter. Bank of Montreal Can raised its position in shares of Alithya Group by 272.2% in the 2nd quarter. Bank of Montreal Can now owns 31,450 shares of the company’s stock worth $82,000 after purchasing an additional 23,000 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Alithya Group by 4.9% in 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 during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Alithya Group in the 4th quarter worth about $105,000.

About Alithya Group

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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