Sify Technologies (NASDAQ:SIFY) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Sify Technologies (NASDAQ:SIFY) from a sell rating to a hold rating in a research report report published on Saturday morning, 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. “

Shares of SIFY stock opened at $0.79 on Friday. The business’s 50 day moving average is $0.89 and its two-hundred day moving average is $1.03. The company has a current ratio of 1.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. Sify Technologies has a 12-month low of $0.56 and a 12-month high of $1.65.

A hedge fund recently raised its stake in Sify Technologies stock. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Sify Technologies Limited (NASDAQ:SIFY) by 111.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,190 shares of the technology company’s stock after purchasing an additional 20,110 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.10% of Sify Technologies worth $29,000 at the end of the most recent reporting period. 3.93% of the stock is currently owned by hedge funds and other institutional investors.

About Sify Technologies

Sify Technologies Ltd. engages in the provision of integrated Internet, network, and electronic commerce services in India. It operates through the following segments: Telecom-centric Services, and Data Center-centric Information Technology Services. The Telecom-centric Services segment includes domestic data, international data wholesale voice, and network managed services.

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