Syntel (SYNT) Earns “Hold” Rating from Barrington Research
“We expect Syntel to report Q1/18 total revenue of $227.2 million, which is in line with the FactSet consensus of $227.2 million. Our forecast represents year- over-year (YOY) growth of 1% and a sequential decline of 5%. The sequential decline is consistent with historical results, which were impacted by seasonality. Earnings outlook: We expect Syntel to report Q1/18 non-GAAP EPS of $0.44, which is in line with the FactSet consensus of $0.44. Our forecast represents a decline from $0.46 and $0.62 in the year ago and sequential periods, respectively. The large sequential decline was due to the impact of lower volume on gross margins and overhead cost absorption.”,” the firm’s analyst commented.
Other analysts have also issued research reports about the stock. BidaskClub raised shares of Syntel from a strong sell rating to a sell rating in a report on Wednesday, February 21st. William Blair reaffirmed a market perform rating on shares of Syntel in a report on Thursday, February 15th. Maxim Group reaffirmed a hold rating on shares of Syntel in a report on Thursday, February 15th. ValuEngine lowered shares of Syntel from a buy rating to a hold rating in a report on Friday, February 2nd. Finally, Needham & Company LLC lowered shares of Syntel from a buy rating to a hold rating in a report on Thursday, December 21st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $24.13.
Syntel (NASDAQ:SYNT) last released its earnings results on Thursday, April 19th. The information technology services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. Syntel had a net margin of 18.00% and a negative return on equity of 218.07%. The firm had revenue of $245.35 million during the quarter, compared to analyst estimates of $228.02 million. During the same quarter in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. equities analysts expect that Syntel will post 1.86 EPS for the current year.
In other news, insider Daniel M. Moore sold 2,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $26.69, for a total value of $53,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Prashant Ranade sold 50,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $27.18, for a total transaction of $1,359,000.00. Following the completion of the transaction, the chairman now directly owns 257,933 shares of the company’s stock, valued at approximately $7,010,618.94. The disclosure for this sale can be found here. Insiders sold a total of 53,800 shares of company stock valued at $1,460,368 in the last three months. 61.10% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in SYNT. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Syntel by 1,208.5% in 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 buying an additional 5,245 shares during the period. SG Americas Securities LLC bought a new stake in Syntel in the 4th quarter valued at $144,000. Comerica Bank bought a new stake in Syntel in the 4th quarter valued at $213,000. Quantitative Systematic Strategies LLC bought a new stake in Syntel in the 4th quarter valued at $221,000. Finally, Koch Industries Inc. bought a new stake in Syntel in the 4th quarter valued at $234,000. 40.41% of the stock is owned by institutional investors.
Syntel Company Profile
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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