Syntel, Inc. (NASDAQ:SYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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 subject of a number of other reports. Maxim Group reissued a “hold” rating on shares of Syntel in a report on Thursday, July 20th. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Cowen and Company reissued a “hold” rating and set a $18.00 price objective on shares of Syntel in a report on Tuesday. BidaskClub raised Syntel from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $16.00 price objective on shares of Syntel in a report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $25.98.

Shares of Syntel (SYNT) opened at 18.17 on Thursday. Syntel has a 12-month low of $15.82 and a 12-month high of $46.95. The company has a 50-day moving average price of $18.09 and a 200 day moving average price of $17.86. The firm’s market capitalization is $1.52 billion.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 20th. The information technology services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $226.81 million during the quarter. Syntel had a negative return on equity of 110.72% and a negative net margin of 10.11%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. Equities research analysts expect that Syntel will post $1.72 earnings per share for the current fiscal year.

Syntel declared that its board has initiated a stock repurchase plan on Thursday, July 20th that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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Several institutional investors have recently added to or reduced their stakes in the stock. Cim LLC raised its position in Syntel by 0.9% in the fourth quarter. Cim LLC now owns 11,042 shares of the information technology services provider’s stock valued at $500,000 after buying an additional 98 shares in the last quarter. Aperio Group LLC increased its position in Syntel by 3.8% in the third quarter. Aperio Group LLC now owns 6,242 shares of the information technology services provider’s stock valued at $262,000 after buying an additional 229 shares during the last quarter. Eqis Capital Management Inc. increased its position in Syntel by 4.0% in the second quarter. Eqis Capital Management Inc. now owns 6,406 shares of the information technology services provider’s stock valued at $290,000 after buying an additional 248 shares during the last quarter. BB&T Securities LLC increased its position in Syntel by 2.5% in the second quarter. BB&T Securities LLC now owns 11,268 shares of the information technology services provider’s stock valued at $509,000 after buying an additional 270 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in Syntel by 0.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 93,003 shares of the information technology services provider’s stock valued at $4,209,000 after buying an additional 313 shares during the last quarter. 32.85% of the stock is owned by 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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