Zacks Investment Research cut shares of CynergisTek (NYSEAMERICAN:CTEK) from a buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “CynergisTek, Inc. provides cyber security and information management consulting in healthcare industry. It specializes in privacy, security, compliance and document management. The company’s service includes risk assessment, technical security, baseline security, information security program assessment, print security, vulnerability, architecture, penetration testing, social engineering and phishing and riskSonar assessment tool. CynergisTek Inc., formerly known as Auxilio, Inc., is headquartered in Mission Viejo, CA. “
CTEK has been the subject of a number of other reports. B. Riley reaffirmed a buy rating and set a $8.25 price objective (up from $6.25) on shares of CynergisTek in a research note on Thursday, March 22nd. TheStreet lowered shares of CynergisTek from a b- rating to a c- rating in a research report on Wednesday, March 28th. Finally, Roth Capital initiated coverage on shares of CynergisTek in a research report on Monday, January 29th. They issued a buy rating and a $7.20 price target for the company.
CynergisTek (NYSEAMERICAN:CTEK) last posted its quarterly earnings data on Monday, May 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The business had revenue of $16.38 million for the quarter, compared to the consensus estimate of $17.45 million.
Several hedge funds and other institutional investors have recently bought and sold shares of CTEK. King Luther Capital Management Corp raised its position in CynergisTek by 29.1% during the first quarter. King Luther Capital Management Corp now owns 88,750 shares of the company’s stock valued at $442,000 after acquiring an additional 20,000 shares in the last quarter. Connors Investor Services Inc. bought a new position in CynergisTek during the fourth quarter valued at approximately $148,000. Perritt Capital Management Inc. raised its position in CynergisTek by 22.6% during the fourth quarter. Perritt Capital Management Inc. now owns 402,235 shares of the company’s stock valued at $1,629,000 after acquiring an additional 74,042 shares in the last quarter. Finally, ARS Investment Partners LLC bought a new position in CynergisTek during the first quarter valued at approximately $1,251,000.
Cynergistek, Inc provides outsourced document management services and IT security consulting services primarily to the healthcare industry in the United States. It offers workflow solutions; and creates manageable, dependable print management programs by managing the back-office processes of hospital clients.
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