BidaskClub upgraded shares of Syntel (NASDAQ:SYNT) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday.
SYNT has been the subject of a number of other reports. Zacks Investment Research raised shares of Syntel from a sell rating to a hold rating in a research note on Tuesday, February 20th. Robert W. Baird reissued a hold rating and set a $24.00 price objective on shares of Syntel in a research note on Thursday, December 21st. ValuEngine raised shares of Syntel from a hold rating to a buy rating in a research note on Thursday, November 9th. Needham & Company LLC cut shares of Syntel from a buy rating to a hold rating in a research note on Thursday, December 21st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. cut shares of Syntel from a neutral rating to an underweight rating in a research note on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $23.00.
Syntel (NASDAQ:SYNT) opened at $26.98 on Wednesday. Syntel has a 1-year low of $15.82 and a 1-year high of $27.59. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $2,235.40, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.
Syntel (NASDAQ:SYNT) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.23. Syntel had a net margin of 18.00% and a negative return on equity of 170.67%. The company had revenue of $239.81 million during the quarter. During the same period last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. equities research analysts anticipate that Syntel will post 1.87 EPS for the current year.
In other news, Chairman Prashant Ranade sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $27.18, for a total transaction of $1,359,000.00. Following the completion of the transaction, the chairman now directly owns 257,933 shares of the company’s stock, valued at approximately $7,010,618.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 52,864 shares of company stock valued at $1,432,459. Corporate insiders own 61.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. grew its stake in Syntel by 1,208.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,679 shares of the information technology services provider’s stock worth $130,000 after acquiring an additional 5,245 shares during the period. Group One Trading L.P. grew its stake in Syntel by 52.2% in the 3rd quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock worth $143,000 after acquiring an additional 2,498 shares during the period. SG Americas Securities LLC purchased a new stake in Syntel in the 4th quarter worth approximately $144,000. UBS Asset Management Americas Inc. purchased a new stake in Syntel in the 2nd quarter worth approximately $181,000. Finally, Comerica Bank purchased a new stake in Syntel in the 4th quarter worth approximately $213,000. 40.63% of the stock is owned by institutional investors and hedge funds.
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Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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