Syntel, Inc. (SYNT) Given Average Recommendation of “Hold” by Brokerages
Shares of Syntel, Inc. (NASDAQ:SYNT) have been given an average recommendation of “Hold” by the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $31.00.
A number of research analysts have recently issued reports on SYNT shares. Zacks Investment Research downgraded shares of Syntel from a “buy” rating to a “hold” rating in a research report on Saturday, June 23rd. BidaskClub downgraded shares of Syntel from a “buy” rating to a “hold” rating in a research report on Friday. Barrington Research reiterated a “hold” rating on shares of Syntel in a research report on Monday, July 23rd. Wells Fargo & Co downgraded shares of Syntel from a “market perform” rating to an “underperform” rating in a research report on Thursday, June 28th. Finally, TheStreet upgraded shares of Syntel from a “c+” rating to a “b-” rating in a research report on Wednesday, May 23rd.
SYNT stock traded up $0.01 during mid-day trading on Friday, hitting $40.92. 38,379 shares of the company were exchanged, compared to its average volume of 553,779. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.96 and a quick ratio of 1.96. Syntel has a twelve month low of $17.97 and a twelve month high of $41.05. The firm has a market cap of $3.40 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.07 and a beta of 0.80.
Several hedge funds have recently added to or reduced their stakes in SYNT. Meeder Asset Management Inc. raised its position in shares of Syntel by 265.2% during the 1st quarter. Meeder Asset Management Inc. now owns 5,807 shares of the information technology services provider’s stock worth $148,000 after buying an additional 4,217 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Syntel during the 1st quarter worth about $174,000. Trexquant Investment LP bought a new stake in shares of Syntel during the 1st quarter worth about $229,000. Teacher Retirement System of Texas acquired a new position in shares of Syntel in the 2nd quarter worth approximately $243,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Syntel in the 1st quarter worth approximately $248,000. Institutional investors own 40.78% of the company’s stock.
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.
Further Reading: Earnings Per Share
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