Ciber Inc. (NYSE:CBR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday.

According to Zacks, “CIBER is a recognized leader in providing innovative IT solutions and partnering with customers to leverage technology in today’s e.Business-driven marketplace. The company delivers e.Business solutions to help organizations gain knowledge from the market, create value for their customers, reduce time and cost across the supply chain, and drive global competitive advantage. The company combines its broad array of in-depth business and technical expertise to create solutions that solve an enterprise’s complex requirements. “

Separately, B. Riley reaffirmed a “neutral” rating and issued a $1.00 target price on shares of Ciber in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Ciber currently has a consensus rating of “Hold” and a consensus target price of $2.22.

Ciber (NYSE:CBR) opened at 0.6802 on Friday. Ciber has a 12 month low of $0.66 and a 12 month high of $3.75. The firm’s market cap is $55.54 million. The stock’s 50 day moving average is $1.00 and its 200-day moving average is $1.30.

Ciber (NYSE:CBR) last released its earnings results on Tuesday, November 8th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.14. The business earned $144.30 million during the quarter, compared to the consensus estimate of $153.28 million. Ciber had a negative net margin of 24.84% and a negative return on equity of 22.69%. On average, analysts anticipate that Ciber will post ($0.77) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. increased its position in shares of Ciber by 22.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 912,997 shares of the company’s stock worth $1,050,000 after buying an additional 167,069 shares during the period. Principal Financial Group Inc. increased its position in shares of Ciber by 4.6% in the third quarter. Principal Financial Group Inc. now owns 534,686 shares of the company’s stock worth $615,000 after buying an additional 23,719 shares during the period. Ameriprise Financial Inc. increased its position in shares of Ciber by 4.8% in the third quarter. Ameriprise Financial Inc. now owns 363,008 shares of the company’s stock worth $417,000 after buying an additional 16,595 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ciber by 54.2% in the third quarter. JPMorgan Chase & Co. now owns 111,662 shares of the company’s stock worth $128,000 after buying an additional 39,265 shares during the period. Finally, First New York Securities LLC NY purchased a new position in shares of Ciber during the third quarter worth approximately $256,000. 60.06% of the stock is owned by institutional investors.

About Ciber

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).

5 Day Chart for NYSE:CBR

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