Syntel Inc. (NASDAQ:SYNT) was downgraded by equities researchers at Barrington Research from an “outperform” rating to a “market perform” rating in a report issued on Thursday.

Several other research firms also recently issued reports on SYNT. Zacks Investment Research raised shares of Syntel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Maxim Group reduced their price target on shares of Syntel from $48.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, July 21st. Cantor Fitzgerald set a $43.00 price target on shares of Syntel and gave the company a “hold” rating in a research report on Wednesday, September 7th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price target on shares of Syntel in a research report on Monday, September 12th. Finally, William Blair downgraded shares of Syntel from a “market perform” rating to an “underperform” rating in a research report on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.83.

Shares of Syntel (NASDAQ:SYNT) opened at 43.12 on Thursday. Syntel has a 52-week low of $40.68 and a 52-week high of $50.92. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 13.78 and a beta of 1.07. The firm’s 50-day moving average is $44.72 and its 200 day moving average is $45.33.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/syntel-inc-synt-lowered-to-market-perform-at-barrington-research.html

Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company earned $246 million during the quarter, compared to analyst estimates of $249.12 million. Syntel had a net margin of 26.49% and a return on equity of 22.35%. Syntel’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. On average, equities research analysts anticipate that Syntel will post ($0.67) earnings per share for the current year.

The business also recently declared a special dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 22nd will be issued a $15.00 dividend. This is an increase from Syntel’s previous special dividend of $2.25. The ex-dividend date of this dividend is Tuesday, October 4th.

In related news, insider Prashant Ranade sold 3,200 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $42.01, for a total value of $134,432.00. Following the transaction, the insider now directly owns 72,100 shares of the company’s stock, valued at approximately $3,028,921. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Avinash Salelkar sold 943 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $45.79, for a total transaction of $43,179.97. Following the completion of the transaction, the vice president now directly owns 15,021 shares in the company, valued at $687,811.59. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. BOKF NA increased its position in shares of Syntel by 0.4% in the second quarter. BOKF NA now owns 7,931 shares of the company’s stock worth $359,000 after buying an additional 32 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Syntel by 0.9% in the second quarter. Principal Financial Group Inc. now owns 7,257 shares of the company’s stock worth $328,000 after buying an additional 67 shares in the last quarter. American International Group Inc. boosted its stake in shares of Syntel by 0.9% in the second quarter. American International Group Inc. now owns 18,592 shares of the company’s stock worth $841,000 after buying an additional 164 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Syntel by 4.0% in the second quarter. Eqis Capital Management Inc. now owns 6,406 shares of the company’s stock worth $290,000 after buying an additional 248 shares in the last quarter. Finally, BB&T Securities LLC boosted its stake in shares of Syntel by 2.5% in the second quarter. BB&T Securities LLC now owns 11,268 shares of the company’s stock worth $509,000 after buying an additional 270 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors.

About Syntel

Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.

5 Day Chart for NASDAQ:SYNT

Receive News & Ratings for Syntel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.