Syntel, Inc. (SYNT) Receives Average Recommendation of “Hold” from Analysts
Syntel, Inc. (NASDAQ:SYNT) has been assigned a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $29.65.
A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. ValuEngine downgraded shares of Syntel from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company reissued a “market perform” rating and set a $18.00 price target (down from $20.00) on shares of Syntel in a research note on Sunday, April 23rd. Finally, Needham & Company LLC dropped their price target on shares of Syntel from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, April 21st.
Shares of Syntel (NASDAQ:SYNT) traded up 0.87% during mid-day trading on Tuesday, reaching $16.23. 156,519 shares of the company were exchanged. The firm has a 50-day moving average price of $17.40 and a 200 day moving average price of $18.54. Syntel has a 12 month low of $15.82 and a 12 month high of $48.41. The stock’s market capitalization is $1.36 billion.
Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, April 20th. The information technology services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. Syntel had a negative net margin of 7.58% and a positive return on equity of 110.62%. The company had revenue of $225.87 million during the quarter. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Equities research analysts anticipate that Syntel will post $1.68 EPS for the current fiscal year.
In other news, Director Rex E. Jr. Schlaybaugh bought 2,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was purchased at an average price of $17.29 per share, with a total value of $34,580.00. Following the completion of the purchase, the director now owns 6,114 shares of the company’s stock, valued at $105,711.06. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Avinash Salelkar bought 1,484 shares of the stock in a transaction on Tuesday, April 25th. The stock was purchased at an average cost of $17.14 per share, with a total value of $25,435.76. Following 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 acquired 19,377 shares of company stock valued at $334,732 in the last ninety days. Insiders own 61.10% of the company’s stock.
A number of large investors have recently modified their holdings of SYNT. Norges Bank purchased a new stake in shares of Syntel during the fourth quarter valued at approximately $11,015,000. IPG Investment Advisors LLC increased its stake in shares of Syntel by 393.7% in the first quarter. IPG Investment Advisors LLC now owns 527,465 shares of the information technology services provider’s stock valued at $8,877,000 after buying an additional 420,625 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Syntel during the fourth quarter valued at approximately $7,532,000. Pekin Singer Strauss Asset Management IL increased its stake in shares of Syntel by 163.2% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 599,079 shares of the information technology services provider’s stock valued at $11,856,000 after buying an additional 371,463 shares during the last quarter. Finally, Sprott Inc. purchased a new stake in shares of Syntel during the first quarter valued at approximately $5,386,000. 33.53% of the stock is owned by hedge funds and other institutional investors.
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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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