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

Zacks Investment Research upgraded shares of Sify Technologies (NASDAQ:SIFY) from a sell rating to a hold rating in a research report sent to investors 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. “

SIFY opened at $0.79 on Friday. The business has a fifty day moving average of $0.89 and a 200 day moving average of $1.03. Sify Technologies has a 52-week low of $0.56 and a 52-week high of $1.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.97 and a current ratio of 1.05.

An institutional investor recently raised its position in Sify Technologies stock. Mondrian Investment Partners LTD grew its position in Sify Technologies Limited (NASDAQ:SIFY) by 100.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,203 shares of the technology company’s stock after buying an additional 35,765 shares during the quarter. Mondrian Investment Partners LTD owned 0.18% of Sify Technologies worth $53,000 at the end of the most recent reporting period. Institutional investors own 3.93% of the company’s stock.

Sify Technologies Company Profile

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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