Syntel, Inc. (NASDAQ:SYNT)‘s stock had its “hold” rating reiterated by equities researchers at Cowen and Company in a research report issued to clients and investors on Thursday. They presently have a $18.00 price objective on the information technology services provider’s stock. Cowen and Company’s price objective would indicate a potential downside of 8.95% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Syntel from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. ValuEngine cut Syntel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Maxim Group reissued a “hold” rating on shares of Syntel in a research note on Thursday, July 20th. Cantor Fitzgerald reissued a “hold” rating and issued a $16.00 price target on shares of Syntel in a research note on Thursday, July 20th. Finally, BidaskClub raised Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.73.

Shares of Syntel (SYNT) traded up 0.10% during trading on Thursday, reaching $19.79. The company’s stock had a trading volume of 88,309 shares. The firm’s market cap is $1.66 billion. Syntel has a 12 month low of $15.82 and a 12 month high of $26.82. The company’s 50 day moving average price is $18.76 and its 200 day moving average price is $17.87.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. The company 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 company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. On average, equities analysts predict that Syntel will post $1.72 earnings per share for the current year.

Syntel announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 20th that allows the company to buyback $60.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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Institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. bought a new stake in shares of Syntel during the 2nd quarter valued at about $181,000. Legal & General Group Plc boosted its position in shares of Syntel by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after purchasing an additional 881 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Syntel by 4.2% during the 2nd quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock valued at $217,000 after purchasing an additional 515 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Syntel by 14.7% during the 2nd quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock valued at $272,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Syntel during the 2nd quarter valued at about $309,000. Institutional investors own 34.71% of the company’s stock.

About Syntel

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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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