Syntel Inc. (SYNT) Trading Down 1.1%
Syntel Inc. (NASDAQ:SYNT) shares dropped 1.1% during trading on Friday . The stock traded as low as $45.48 and last traded at $45.79, with a volume of 159,670 shares traded. The stock had previously closed at $46.32.
SYNT has been the subject of several recent research reports. Jefferies Group reiterated a “hold” rating on shares of Syntel in a research report on Saturday, May 14th. Robert W. Baird reiterated a “hold” rating on shares of Syntel in a research report on Monday, May 16th. Zacks Investment Research upgraded Syntel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Cantor Fitzgerald reiterated a “hold” rating and issued a $43.00 price target on shares of Syntel in a research report on Wednesday, July 6th. Finally, Maxim Group lowered Syntel from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research report on Friday, July 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Syntel presently has an average rating of “Hold” and a consensus target price of $48.71.
The stock has a 50 day moving average of $45.70 and a 200 day moving average of $45.57. The stock has a market capitalization of $3.70 billion and a price-to-earnings ratio of 14.06.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The firm earned $246 million during the quarter, compared to analyst estimates of $249.12 million. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. On average, analysts forecast that Syntel Inc. will post $2.64 EPS for the current year.
In other Syntel news, insider Anil Jain sold 1,250 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $45.60, for a total value of $57,000.00. Following the completion of the transaction, the insider now owns 13,940 shares in the company, valued at $635,664. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Prashant Ranade sold 1,500 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $46.56, for a total transaction of $69,840.00. Following the completion of the transaction, the insider now owns 75,300 shares of the company’s stock, valued at approximately $3,505,968. The disclosure for this sale can be found here.
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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