Syntel Inc. (SYNT) Scheduled to Post Earnings on Thursday
Syntel Inc. (NASDAQ:SYNT) is scheduled to announce its earnings results before the market opens on Thursday, October 20th. Analysts expect the company to announce earnings of ($2.59) per share for the quarter. Syntel has set its FY16 guidance at $2.55-2.70 EPS.
Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. The firm had revenue of $246 million for 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%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, analysts expect Syntel to post $2.56 EPS for the current fiscal year and $2.56 EPS for the next fiscal year.
Shares of Syntel Inc. (NASDAQ:SYNT) opened at 26.51 on Wednesday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 8.47 and a beta of 1.12. Syntel Inc. has a 1-year low of $25.15 and a 1-year high of $50.92. The stock has a 50 day moving average of $37.72 and a 200-day moving average of $43.42.
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The company also recently declared a special dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were paid a $15.00 dividend. The ex-dividend date of this dividend was Tuesday, October 4th. This is an increase from Syntel’s previous special dividend of $2.25.
A number of research analysts recently issued reports on the stock. Maxim Group downgraded shares of Syntel from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research note on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $47.00 price target on shares of Syntel in a research note on Tuesday, July 19th. Cantor Fitzgerald set a $43.00 price target on shares of Syntel and gave the stock a “hold” rating in a research note on Tuesday, September 13th. Robert W. Baird lifted their price target on shares of Syntel from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 13th. Finally, Zacks Investment Research downgraded shares of Syntel from a “hold” rating to a “sell” rating in a research note on Saturday, July 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.00.
In other news, VP Avinash Salelkar sold 943 shares of Syntel stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $45.79, for a total value of $43,179.97. Following the transaction, the vice president now directly owns 15,021 shares of the company’s stock, valued at approximately $687,811.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raja Ray sold 718 shares of Syntel stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $42.69, for a total transaction of $30,651.42. Following the completion of the transaction, the insider now directly owns 13,151 shares in the company, valued at $561,416.19. The disclosure for this sale can be found here. Insiders own 61.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in shares of Syntel during the second quarter worth approximately $135,000. Pacad Investment Ltd. acquired a new position in shares of Syntel during the second quarter worth approximately $235,000. Clinton Group Inc. acquired a new position in shares of Syntel during the second quarter worth approximately $270,000. Cubist Systematic Strategies LLC acquired a new position in shares of Syntel during the second quarter worth approximately $282,000. Finally, Principal Financial Group Inc. boosted its position 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 during the last quarter. 34.03% of the stock is currently owned by institutional investors and hedge funds.
Syntel Company Profile
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.
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