Syntel, Inc. (SYNT) Given Average Rating of “Hold” by Analysts
Syntel, Inc. (NASDAQ:SYNT) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $29.65.
Several equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Syntel from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Needham & Company LLC cut their target price on shares of Syntel from $23.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 21st. Cantor Fitzgerald reissued a “hold” rating and issued a $23.00 target price on shares of Syntel in a report on Thursday, February 16th. Zacks Investment Research lowered shares of Syntel from a “hold” rating to a “sell” rating in a report on Tuesday, February 21st. Finally, Cowen and Company reissued a “market perform” rating and issued a $18.00 target price (down from $20.00) on shares of Syntel in a report on Sunday, April 23rd.
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Syntel (NASDAQ SYNT) traded down 1.51% during mid-day trading on Friday, reaching $16.28. 175,900 shares of the company were exchanged. The stock’s market capitalization is $1.36 billion. The stock has a 50 day moving average of $17.80 and a 200-day moving average of $18.77. Syntel has a one year low of $15.82 and a one year high of $48.41.
Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Thursday, April 20th. The information technology services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $225.87 million for the quarter. Syntel had a negative net margin of 7.58% and a positive return on equity of 110.62%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, equities analysts expect that Syntel will post $1.68 earnings per share for the current fiscal year.
In related news, insider Raja Ray bought 4,265 shares of the stock in a transaction dated Tuesday, April 25th. The stock was purchased at an average cost of $17.15 per share, with a total value of $73,144.75. Following the completion of the purchase, the insider now owns 21,256 shares of the company’s stock, valued at $364,540.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Avinash Salelkar bought 1,484 shares of the stock in a transaction dated Tuesday, April 25th. The shares were bought at an average cost of $17.14 per share, with a total value of $25,435.76. Following the completion of the purchase, the vice president now directly owns 15,825 shares of the company’s stock, valued at approximately $271,240.50. The disclosure for this purchase can be found here. Insiders have acquired 19,377 shares of company stock valued at $334,732 over the last ninety days. 61.80% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Horizon Kinetics LLC raised its stake in shares of Syntel by 123.9% in the fourth quarter. Horizon Kinetics LLC now owns 21,280 shares of the information technology services provider’s stock worth $421,000 after buying an additional 11,777 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in shares of Syntel by 24.3% in the fourth quarter. Freestone Capital Holdings LLC now owns 473,688 shares of the information technology services provider’s stock worth $9,951,000 after buying an additional 92,669 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Syntel by 409.0% in the fourth quarter. Two Sigma Investments LP now owns 435,984 shares of the information technology services provider’s stock worth $8,628,000 after buying an additional 350,337 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Syntel during the fourth quarter worth about $2,618,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Syntel during the fourth quarter worth about $421,000. 33.54% of the stock is owned by hedge funds and other institutional investors.
Syntel Company Profile
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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