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.

In other Syntel news, insider Daniel M. Moore sold 2,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $26.69, for a total transaction of $53,380.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Prashant Ranade sold 50,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $27.18, for a total value of $1,359,000.00. Following the sale, the chairman now directly owns 257,933 shares in the company, valued at $7,010,618.94. The disclosure for this sale can be found here. Insiders have sold a total of 53,800 shares of company stock worth $1,460,368 over the last ninety days. 61.10% of the stock is owned by insiders.

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.

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About Syntel

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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