Sify Technologies (NASDAQ:SIFY) Lowered to Sell at Zacks Investment Research

Sify Technologies (NASDAQ:SIFYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “SIFY TECH LTD a leader in consumer Internet and Enterprise Services in India with global delivery capabilities, today announced that it has integrated its Portal, i-Way cyber cafe chain and Sify Broadband to Home services into one single business unit. Sify is among the largest Internet, network and e-Commerce services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common Internet backbone infrastructure. This Internet backbone reaches two hundred twenty one cities and towns in India. A significant part of the company’s revenue is derived from Corporate Services, which include corporate connectivity, network and communications solutions, security, network management services, enterprise applications and hosting. A host of blue chip customers use Sify’s corporate service offerings. Consumer services include broadband home access, dial up connectivity and the iWay cyber cafe chain across one hundred cities and towns. “

Separately, StockNews.com upgraded shares of Sify Technologies from a “hold” rating to a “buy” rating in a report on Tuesday.

SIFY stock opened at $2.75 on Thursday. Sify Technologies has a one year low of $2.61 and a one year high of $4.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.86 and a current ratio of 0.96. The company has a fifty day moving average of $2.98 and a 200-day moving average of $3.19.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in Sify Technologies in the fourth quarter worth approximately $37,000. Bank of America Corp DE lifted its position in Sify Technologies by 91.2% in the fourth quarter. Bank of America Corp DE now owns 14,887 shares of the technology company’s stock worth $48,000 after purchasing an additional 7,102 shares during the period. SRS Capital Advisors Inc. lifted its position in Sify Technologies by 49.4% in the third quarter. SRS Capital Advisors Inc. now owns 16,435 shares of the technology company’s stock worth $56,000 after purchasing an additional 5,435 shares during the period. BlackRock Inc. lifted its position in Sify Technologies by 96.0% in the third quarter. BlackRock Inc. now owns 34,437 shares of the technology company’s stock worth $116,000 after purchasing an additional 16,865 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in Sify Technologies by 66.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 41,111 shares of the technology company’s stock worth $139,000 after acquiring an additional 16,464 shares in the last quarter. 1.78% of the stock is owned by institutional investors.

About Sify Technologies (Get Rating)

Sify Technologies Limited provides integrated ICT solutions and services in India and internationally. It operates through five segments: Network Centric Services, Data Center Services, Cloud and Managed Services, Technology Integration Services, and Applications Integration Services. The Network Centric Services segment offers internet, internet protocol and multi-protocol label switching virtual private network, SDWAN, managed Wi-Fi, internet of things, wholesale and retail voice, network managed, application to person, unified communication as a service, and proactive monitoring and management of the network and devices.

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