Analysts’ Weekly Ratings Changes for Syntel (SYNT)
Several brokerages have updated their recommendations and price targets on shares of Syntel (NASDAQ: SYNT) in the last few weeks:
- 9/22/2016 – Syntel was downgraded by analysts at Barrington Research from an “outperform” rating to a “market perform” rating.
- 9/15/2016 – Syntel was downgraded by analysts at William Blair from a “market perform” rating to an “underperform” rating.
- 9/13/2016 – Syntel had its price target raised by analysts at Robert W. Baird from $46.00 to $52.00. They now have a “neutral” rating on the stock.
- 9/13/2016 – Syntel was given a new $43.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
- 9/12/2016 – Syntel had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $48.00 price target on the stock.
- 9/7/2016 – Syntel was given a new $43.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
- 8/8/2016 – Syntel had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald.
Shares of Syntel Inc. (NASDAQ:SYNT) traded down 0.70% during mid-day trading on Thursday, reaching $42.82. 569,790 shares of the company traded hands. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 13.68 and a beta of 1.07. The company’s 50 day moving average is $44.72 and its 200 day moving average is $45.33. Syntel Inc. has a 52-week low of $40.68 and a 52-week high of $50.92.
Syntel (NASDAQ:SYNT) last posted its earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company had revenue of $246 million for the quarter, compared to analyst estimates of $249.12 million. Syntel had a return on equity of 22.35% and a net margin of 26.49%. Syntel’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities analysts forecast that Syntel Inc. will post ($0.67) earnings per share for the current year.
The company also recently announced a special dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be issued a $15.00 dividend. This is a positive change from Syntel’s previous special dividend of $2.25. The ex-dividend date of this dividend is Tuesday, October 4th.
In other Syntel news, CEO Nitin Rakesh sold 1,750 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $42.01, for a total value of $73,517.50. Following the sale, the chief executive officer now owns 49,600 shares of the company’s stock, valued at $2,083,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sanjay Garg sold 1,375 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $42.01, for a total value of $57,763.75. Following the completion of the sale, the vice president now directly owns 2,750 shares in the company, valued at approximately $115,527.50. The disclosure for this sale can be found here. 61.80% of the stock is owned by company insiders.
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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