Pinnacle Associates Ltd. trimmed its stake in shares of Sify Technologies Limited (NASDAQ:SIFY) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 569,905 shares of the technology company’s stock after selling 15,427 shares during the quarter. Pinnacle Associates Ltd. owned about 1.44% of Sify Technologies worth $781,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, River & Mercantile Asset Management LLP acquired a new stake in Sify Technologies during the first quarter worth approximately $187,000. Hedge funds and other institutional investors own 4.58% of the company’s stock.
A number of equities analysts have weighed in on the stock. Maxim Group reiterated a “buy” rating and issued a $4.00 price target on shares of Sify Technologies in a report on Thursday, July 25th. Zacks Investment Research lowered shares of Sify Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 17th.
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.
Featured Story: Why is a lock-up period needed for an IPO?
Receive News & Ratings for Sify Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sify Technologies and related companies with MarketBeat.com's FREE daily email newsletter.