Syntel Inc. (SYNT) Sees Unusually-High Trading Volume
Syntel Inc. (NASDAQ:SYNT) saw unusually-strong trading volume on Monday . Approximately 608,000 shares changed hands during trading, an increase of 287% from the previous session’s volume of 156,955 shares.The stock last traded at $44.01 and had previously closed at $46.32.
SYNT has been the subject of a number of recent research reports. Cantor Fitzgerald reissued a “hold” rating and issued a $43.00 target price on shares of Syntel in a report on Wednesday, July 6th. Zacks Investment Research lowered shares of Syntel from a “hold” rating to a “sell” rating in a report on Saturday, July 23rd. Maxim Group lowered shares of Syntel from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a “hold” rating and issued a $47.00 target price on shares of Syntel in a report on Tuesday, July 19th. Finally, Robert W. Baird reissued a “hold” rating on shares of Syntel in a report on Monday, May 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Syntel currently has a consensus rating of “Hold” and a consensus target price of $48.71.
The company has a market capitalization of $3.70 billion and a P/E ratio of 14.06. The stock has a 50 day moving average price of $45.60 and a 200 day moving average price of $45.56.
Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The business had revenue of $246 million for the quarter, compared to analyst estimates of $249.12 million. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Analysts anticipate that Syntel Inc. will post $2.64 EPS for the current year.
In related news, VP Avinash Salelkar sold 943 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $45.79, for a total transaction of $43,179.97. Following the completion of the sale, the vice president now directly owns 15,021 shares in the company, valued at $687,811.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anil Jain sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $45.60, for a total value of $57,000.00. Following the sale, the insider now owns 13,940 shares of the company’s stock, valued at $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.