CynergisTek (CTEK) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of CynergisTek (NYSEAMERICAN:CTEK) from a strong-buy rating to a hold rating in a report issued on Wednesday.

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. “

NYSEAMERICAN:CTEK traded down $0.02 during trading hours on Wednesday, reaching $4.77. 8,554 shares of the company’s stock were exchanged, compared to its average volume of 19,183. CynergisTek has a 1-year low of $3.23 and a 1-year high of $5.45.

CynergisTek (NYSEAMERICAN:CTEK) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.09. The business had revenue of $19.22 million for the quarter, compared to analyst estimates of $18.65 million.

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in CynergisTek during the 2nd quarter worth $2,298,000. ARS Investment Partners LLC increased its holdings in shares of CynergisTek by 40.4% in the 3rd quarter. ARS Investment Partners LLC now owns 463,180 shares of the company’s stock valued at $1,783,000 after purchasing an additional 133,362 shares in the last quarter. Bridgeway Capital Management Inc. increased its holdings in shares of CynergisTek by 50.5% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 164,000 shares of the company’s stock valued at $631,000 after purchasing an additional 55,000 shares in the last quarter. King Luther Capital Management Corp increased its holdings in shares of CynergisTek by 22.5% in the 2nd quarter. King Luther Capital Management Corp now owns 108,750 shares of the company’s stock valued at $428,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of CynergisTek by 30.2% in the 3rd quarter. Vanguard Group Inc. now owns 98,036 shares of the company’s stock valued at $377,000 after purchasing an additional 22,722 shares in the last quarter.

About CynergisTek

Cynergistek, Inc provides outsourced document solutions, IT consulting data security, and managed print services primarily to the healthcare industry in the United States. The company offers Incident Response, Vendor Security Management, and Patient Privacy Monitoring Service, as well as Compliance Assist Partner Program.

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