Syntel, Inc. (SYNT) Receives Consensus Recommendation of “Hold” from Analysts
Syntel, Inc. (NASDAQ:SYNT) has earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $29.65.
SYNT has been the topic of a number of research analyst reports. Needham & Company LLC dropped their price objective on shares of Syntel from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, February 1st. Vetr lowered shares of Syntel from a “strong-buy” rating to a “buy” rating and set a $25.81 price objective on the stock. in a report on Thursday, February 16th. Cantor Fitzgerald restated a “hold” rating and set a $23.00 price objective on shares of Syntel in a report on Thursday, February 16th. Finally, Cowen and Company restated a “market perform” rating and set a $18.00 price objective (down from $20.00) on shares of Syntel in a report on Sunday, April 23rd.
Syntel (NASDAQ:SYNT) traded up 0.86% during trading on Monday, hitting $18.66. 183,389 shares of the stock traded hands. The company’s market capitalization is $1.56 billion. Syntel has a one year low of $15.82 and a one year high of $48.41. The company’s 50 day moving average is $17.56 and its 200 day moving average is $19.06.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, April 20th. The information technology services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Syntel had a negative net margin of 3.17% and a positive return on equity of 28.09%. The business had revenue of $225.87 million for the quarter. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. On average, equities analysts forecast that Syntel will post $1.68 EPS for the current fiscal year.
In other Syntel news, insider Murlidhar Reddy bought 1,986 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average price of $17.83 per share, with a total value of $35,410.38. Following the completion of the transaction, the insider now owns 34,079 shares in the company, valued at $607,628.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Avinash Salelkar bought 1,484 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The stock was acquired at an average cost of $17.14 per share, with a total value of $25,435.76. Following the transaction, the vice president now owns 15,825 shares of the company’s stock, valued at approximately $271,240.50. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 19,377 shares of company stock valued at $334,732. 61.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNT. Pacer Advisors Inc. increased its position in Syntel by 14.7% in the third quarter. Pacer Advisors Inc. now owns 3,428 shares of the information technology services provider’s stock worth $144,000 after buying an additional 439 shares during the period. WFG Advisors LP increased its position in Syntel by 9,521.1% in the fourth quarter. WFG Advisors LP now owns 12,315 shares of the information technology services provider’s stock worth $151,000 after buying an additional 12,187 shares during the period. Eqis Capital Management Inc. increased its position in Syntel by 4.9% in the first quarter. Eqis Capital Management Inc. now owns 12,259 shares of the information technology services provider’s stock worth $206,000 after buying an additional 570 shares during the period. HPM Partners LLC acquired a new position in Syntel during the first quarter worth $219,000. Finally, SG Americas Securities LLC acquired a new position in Syntel during the third quarter worth $281,000. 34.30% of the stock is owned by institutional investors and hedge funds.
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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