Syntel, Inc. (NASDAQ:SYNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $21.00 target price on the information technology services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.00% from the company’s current price.

According to Zacks, “Syntel is a worldwide provider of advanced technology services to Fortune 1000 companies, as well as to government entities. Their service offerings are grouped into three segments: e-Business, Application Outsourcing, and Teamsourcing. E-Business consists of practice areas in Web Solutions, Customer Relationship Management, Data Warehousing/Business Intelligence, and Enterprise Application Outsourcing services. “

SYNT has been the topic of several other reports. Maxim Group restated a “hold” rating on shares of Syntel in a report on Thursday, July 20th. ValuEngine upgraded shares of Syntel from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Needham & Company LLC cut their price target 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. BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Finally, Cowen and Company restated a “market perform” rating and issued a $18.00 price target (down previously from $20.00) on shares of Syntel in a report on Sunday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.98.

Syntel (SYNT) opened at 18.75 on Friday. Syntel has a 52 week low of $15.82 and a 52 week high of $46.95. The stock’s 50 day moving average price is $17.99 and its 200-day moving average price is $17.96. The company’s market capitalization is $1.57 billion.

Syntel (NASDAQ:SYNT) last released its quarterly earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The company had revenue of $226.81 million for the quarter. During the same period in the prior year, the business earned $0.70 earnings per share. Syntel’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities research analysts predict that Syntel will post $1.72 earnings per share for the current fiscal year.

Syntel announced that its board has authorized a share repurchase program on Thursday, July 20th that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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Institutional investors have recently added to or reduced their stakes in the company. Tygh Capital Management Inc. boosted its stake in Syntel by 38.8% in the fourth quarter. Tygh Capital Management Inc. now owns 125,272 shares of the information technology services provider’s stock worth $5,669,000 after buying an additional 35,032 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its stake in Syntel by 9.7% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 93,303 shares of the information technology services provider’s stock worth $4,222,000 after buying an additional 8,285 shares during the last quarter. California State Teachers Retirement System boosted its stake in Syntel by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 58,115 shares of the information technology services provider’s stock worth $2,630,000 after buying an additional 900 shares during the last quarter. Cim LLC boosted its stake in Syntel by 0.9% in the fourth quarter. Cim LLC now owns 11,042 shares of the information technology services provider’s stock worth $500,000 after buying an additional 98 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its stake in Syntel by 0.4% in the fourth quarter. Stanley Laman Group Ltd. now owns 155,900 shares of the information technology services provider’s stock worth $7,054,000 after buying an additional 544 shares during the last quarter. 32.85% 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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Analyst Recommendations for Syntel (NASDAQ:SYNT)

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