Syntel (SYNT) Hits New 12-Month High and Low After Better-Than-Expected Earnings
Syntel, Inc. (NASDAQ:SYNT) shares hit a new 52-week high and low on Thursday following a better than expected earnings announcement. The stock traded as low as $28.00 and last traded at $25.69, with a volume of 410413 shares traded. The stock had previously closed at $26.31.
The information technology services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.11. Syntel had a negative return on equity of 218.07% and a net margin of 18.00%. The firm had revenue of $245.35 million for the quarter, compared to the consensus estimate of $228.02 million. During the same period in the prior year, the firm earned $0.46 EPS. The firm’s revenue was up 8.6% on a year-over-year basis.
Several research firms recently issued reports on SYNT. SunTrust Banks reissued a “hold” rating and issued a $29.00 target price on shares of Syntel in a research report on Friday. Barrington Research reaffirmed a “hold” rating on shares of Syntel in a research report on Monday, February 26th. Wellington Shields raised Syntel from a “hold” rating to an “accumulate” rating in a research report on Thursday. BidaskClub raised Syntel from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Syntel in a research report on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.13.
Several large investors have recently bought and sold shares of SYNT. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Syntel by 1,208.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,679 shares of the information technology services provider’s stock valued at $130,000 after acquiring an additional 5,245 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Syntel during the 4th quarter valued at about $144,000. Comerica Bank acquired a new stake in shares of Syntel during the 4th quarter valued at about $213,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Syntel during the 4th quarter valued at about $221,000. Finally, Koch Industries Inc. acquired a new stake in shares of Syntel during the 4th quarter valued at about $234,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.
The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of -25.89. The stock has a market cap of $2,182.81, a P/E ratio of 13.93, a PEG ratio of 1.89 and a beta of 0.74.
Syntel, Inc provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom segments. It provides end-to-end, integrated application, and infrastructure management services; develops software applications; and offers legacy modernization services, such as software analysis, language conversion, reverse engineering, database migration, code optimization, cloud onboarding and migration, ecosystem migration, testing, and management.
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