BidaskClub lowered shares of Syntel (NASDAQ:SYNT) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.
Other equities research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Syntel from a c+ rating to a b- rating in a report on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Syntel from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Tuesday, May 1st. Wellington Shields cut shares of Syntel from a gradually accumulate rating to a hold rating in a report on Wednesday, June 6th. Barrington Research reiterated a hold rating on shares of Syntel in a report on Thursday, May 24th. Finally, Cantor Fitzgerald reiterated a hold rating and set a $41.00 price target on shares of Syntel in a report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Syntel has an average rating of Hold and an average price target of $29.00.
NASDAQ:SYNT opened at $40.60 on Tuesday. Syntel has a 52 week low of $17.78 and a 52 week high of $40.89. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market cap of $3.37 billion, a PE ratio of 20.11, a PEG ratio of 2.06 and a beta of 0.80.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, July 26th. The information technology services provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Syntel had a net margin of 18.42% and a return on equity of 3,237.31%. The firm had revenue of $249.70 million for the quarter. During the same quarter in the previous year, the company earned $0.44 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. equities analysts predict that Syntel will post 1.97 earnings per share for the current fiscal year.
In related news, insider Murlidhar Reddy sold 4,000 shares of the stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $33.18, for a total transaction of $132,720.00. Following the transaction, the insider now owns 36,889 shares in the company, valued at $1,223,977.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 58.10% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in Syntel by 265.2% during the first quarter. Meeder Asset Management Inc. now owns 5,807 shares of the information technology services provider’s stock valued at $148,000 after purchasing an additional 4,217 shares during the period. Victory Capital Management Inc. bought a new position in Syntel during the first quarter valued at approximately $174,000. Teacher Retirement System of Texas bought a new position in Syntel during the second quarter valued at approximately $243,000. Trexquant Investment LP bought a new position in Syntel during the first quarter valued at approximately $229,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Syntel during the first quarter valued at approximately $248,000. Institutional investors own 40.26% of the company’s stock.
Syntel, Inc engages in the provision of digital transformation, information technology and knowledge process outsourcing services. It operates through the following segments: Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics and Telecom. The Banking and Financial Services segment assists clients in the areas, such as cards and payments, retail banking, wholesale banking, consumer lending, risk management, investment banking, reconciliations, fraud analysis, mobile banking, and compliance and securities services.
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