Syntel, Inc. (SYNT) Given Average Recommendation of “Hold” by Brokerages
Syntel, Inc. (NASDAQ:SYNT) has earned a consensus recommendation of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $29.65.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Syntel from a “hold” rating to a “sell” rating in a research report on Tuesday, February 21st. Needham & Company LLC reduced their price objective on shares of Syntel from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 21st. Cowen and Company reissued a “market perform” rating and issued a $18.00 price objective (down from $20.00) on shares of Syntel in a research report on Sunday, April 23rd. Finally, ValuEngine lowered shares of Syntel from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
Shares of Syntel (NASDAQ:SYNT) traded up 1.11% on Friday, reaching $16.40. The company had a trading volume of 210,726 shares. Syntel has a 52 week low of $15.82 and a 52 week high of $48.41. The firm’s market capitalization is $1.37 billion. The stock’s 50 day moving average is $17.69 and its 200 day moving average is $18.69.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Thursday, April 20th. The information technology services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. Syntel had a negative net margin of 7.58% and a positive return on equity of 110.62%. The company had revenue of $225.87 million for the quarter. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Syntel will post $1.68 EPS for the current year.
In other news, Director Rex E. Jr. Schlaybaugh bought 2,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was bought at an average cost of $17.29 per share, for a total transaction of $34,580.00. Following the completion of the purchase, the director now directly owns 6,114 shares in the company, valued at $105,711.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Prashant Ranade bought 5,867 shares of the stock in a transaction on Tuesday, April 25th. The stock was purchased at an average price of $17.19 per share, with a total value of $100,853.73. Following the completion of the purchase, the chairman now owns 277,967 shares of the company’s stock, valued at $4,778,252.73. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 19,377 shares of company stock valued at $334,732. 61.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of SYNT. Russell Investments Group Ltd. bought a new stake in Syntel during the fourth quarter valued at approximately $2,238,000. State Street Corp increased its stake in Syntel by 8.8% in the fourth quarter. State Street Corp now owns 599,404 shares of the information technology services provider’s stock valued at $11,864,000 after buying an additional 48,343 shares during the last quarter. Oxford Asset Management bought a new stake in Syntel during the fourth quarter valued at approximately $2,417,000. Dimensional Fund Advisors LP increased its stake in Syntel by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,048 shares of the information technology services provider’s stock valued at $10,015,000 after buying an additional 20,926 shares during the last quarter. Finally, FMR LLC increased its stake in Syntel by 5.7% in the fourth quarter. FMR LLC now owns 3,575,237 shares of the information technology services provider’s stock valued at $70,754,000 after buying an additional 191,868 shares during the last quarter. Institutional investors and hedge funds own 33.53% of the company’s stock.
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Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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