CDI Corp. (CDI) Stock Rating Upgraded by Zacks Investment Research
CDI Corp. (NYSE:CDI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage presently has a $6.50 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 0.78% from the stock’s previous close.
According to Zacks, “CDI CORP. has three business segments: Technical Services, Temporary Services and Managment Recruiters. Technical Services segment offers four types of technical personnel services: technical staffing, managed staffing, managed technical outsourcing and consulting. Managment Recruiters segment primarily recruits management, technical, sales and clerical personnel for permanent employment positions. Temporary Services segment provides clerical, secretarial, office support, new product demonstration and survey and some semi-skilled light industrial personnel. “
Shares of CDI Corp. (NYSE:CDI) opened at 6.45 on Wednesday. The company’s market capitalization is $119.96 million. CDI Corp. has a 1-year low of $4.31 and a 1-year high of $7.82. The firm has a 50-day moving average price of $5.82 and a 200-day moving average price of $6.00.
In other CDI Corp. news, Director Albert E. Smith purchased 8,000 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were bought at an average cost of $5.40 per share, with a total value of $43,200.00. Following the transaction, the director now directly owns 69,272 shares in the company, valued at approximately $374,068.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.80% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CDI. Matarin Capital Management LLC acquired a new position in shares of CDI Corp. during the third quarter valued at approximately $199,000. Paloma Partners Management Co acquired a new position in shares of CDI Corp. during the second quarter valued at approximately $314,000. Emerald Acquisition Ltd. acquired a new position in shares of CDI Corp. during the second quarter valued at approximately $456,000. Finally, California Public Employees Retirement System increased its position in shares of CDI Corp. by 3.3% in the second quarter. California Public Employees Retirement System now owns 112,707 shares of the company’s stock valued at $688,000 after buying an additional 3,600 shares in the last quarter. 40.93% of the stock is currently owned by institutional investors.
About CDI Corp.
CDI Corp. provides engineering, information technology and staffing solutions. The Company operates in three segments: Global Engineering and Technology Solutions (GETS), Professional Staffing Services (PSS) and Management Recruiters International (MRI). It provides staffing services through its MRINetwork of franchisees.
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