Syntel Inc. (NASDAQ:SYNT) shares fell 3.3% during mid-day trading on Friday . The stock traded as low as $45.95 and last traded at $46.05, with a volume of 280,124 shares. The stock had previously closed at $47.64.

Several research firms have recently issued reports on SYNT. Maxim Group lowered Syntel from a “buy” rating to a “hold” rating and set a $48.00 price target on the stock. in a research report on Friday. They noted that the move was a valuation call. Jefferies Group reiterated a “hold” rating on shares of Syntel in a report on Saturday, May 14th. Robert W. Baird lowered Syntel from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $56.00 to $54.00 in a report on Monday, April 18th. Zacks Investment Research upgraded Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Syntel in a report on Thursday, April 21st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. Syntel currently has an average rating of “Hold” and an average target price of $49.57.

The company’s 50 day moving average price is $45.77 and its 200 day moving average price is $45.54. The stock has a market cap of $3.88 billion and a P/E ratio of 14.65.

Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Thursday, April 21st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.03. The firm had revenue of $241.40 million for the quarter, compared to the consensus estimate of $245.64 million. During the same period in the previous year, the business earned $0.48 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts anticipate that Syntel Inc. will post $2.69 EPS for the current year.

In other news, Vice Chairman Prashant Ranade sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $43.22, for a total transaction of $432,200.00. Following the completion of the transaction, the insider now directly owns 95,000 shares in the company, valued at $4,105,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds and institutional investors recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of Syntel by 44.7% in the fourth quarter. Schroder Investment Management Group now owns 805,835 shares of the company’s stock valued at $36,464,000 after buying an additional 248,767 shares during the period. Boston Partners bought a new position in shares of Syntel during the fourth quarter valued at about $2,152,000. Aberdeen Asset Management PLC UK increased its position in shares of Syntel by 23.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 247,800 shares of the company’s stock valued at $11,778,000 after buying an additional 46,700 shares during the period. Wells Fargo & Company MN increased its position in shares of Syntel by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 510,737 shares of the company’s stock valued at $23,110,000 after buying an additional 40,879 shares during the period. Finally, Oxford Asset Management increased its position in shares of Syntel by 92.4% in the fourth quarter. Oxford Asset Management now owns 28,283 shares of the company’s stock valued at $1,307,000 after buying an additional 13,584 shares during the period.

Syntel, Inc (Syntel) is a provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. Syntel operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Retail, Logistics and Telecom, and Manufacturing.

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