Syntel Inc. (SYNT) Shares Down 1.1%
Syntel Inc. (NASDAQ:SYNT) was down 1.1% during mid-day trading on Friday . The stock traded as low as $45.48 and last traded at $45.79, with a volume of 159,670 shares trading hands. The stock had previously closed at $46.32.
SYNT has been the topic of a number of research reports. Jefferies Group restated a “hold” rating on shares of Syntel in a research report on Saturday, May 14th. Robert W. Baird restated 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 restated a “hold” rating and set a $43.00 price target on shares of Syntel in a research report on Wednesday, July 6th. Finally, Maxim Group downgraded 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, 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 given a buy rating to the company’s stock. Syntel currently has an average rating of “Hold” and a consensus price target of $48.71.
The company has a 50-day moving average of $45.60 and a 200-day moving average of $45.56. The company has a market cap of $3.70 billion and a PE ratio of 14.06.
Syntel (NASDAQ:SYNT) last issued its earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm earned $246 million during the quarter, compared to the consensus estimate of $249.12 million. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. Analysts expect that Syntel Inc. will post $2.64 EPS for the current year.
In other Syntel news, insider Prashant Ranade sold 1,500 shares of the stock in a transaction dated Friday, August 26th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anil Jain sold 1,250 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $45.60, for a total transaction of $57,000.00. Following the transaction, the insider now directly owns 13,940 shares of the company’s stock, valued at approximately $635,664. 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.