Syntel, Inc. (SYNT) Upgraded at William Blair
Syntel, Inc. (NASDAQ:SYNT) was upgraded by equities researchers at William Blair from an “underperform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. William Blair also issued estimates for Syntel’s Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.85 EPS, Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.47 EPS and FY2018 earnings at $1.77 EPS.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Cowen and Company reissued a “hold” rating and issued a $18.00 price objective on shares of Syntel in a research note on Tuesday, August 22nd. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. BidaskClub raised Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. Finally, Robert W. Baird reissued a “hold” rating and issued a $20.00 price objective on shares of Syntel in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.10.
Syntel (NASDAQ:SYNT) traded up 1.33% on Tuesday, reaching $24.31. The company’s stock had a trading volume of 206,146 shares. The firm has a market capitalization of $2.03 billion, a P/E ratio of 11.85 and a beta of 1.06. Syntel has a 52-week low of $15.82 and a 52-week high of $25.80. The firm has a 50-day moving average price of $19.38 and a 200 day moving average price of $18.08.
Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 119.25% and a net margin of 18.64%. The company had revenue of $231.34 million during the quarter. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Syntel will post $1.73 earnings per share for the current fiscal year.
Syntel announced that its Board of Directors has initiated a share repurchase program on Thursday, July 20th that authorizes the company to buyback $60.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in SYNT. Sather Financial Group Inc acquired a new stake in shares of Syntel during the second quarter worth $8,400,000. Dimensional Fund Advisors LP raised its position in shares of Syntel by 75.4% during the second quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock worth $15,661,000 after purchasing an additional 397,034 shares during the period. Vanguard Group Inc. raised its position in shares of Syntel by 5.0% during the second quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock worth $46,198,000 after purchasing an additional 130,471 shares during the period. Bridge City Capital LLC acquired a new stake in shares of Syntel during the second quarter worth $1,771,000. Finally, Teachers Advisors LLC raised its position in shares of Syntel by 128.4% during the second quarter. Teachers Advisors LLC now owns 144,065 shares of the information technology services provider’s stock worth $2,443,000 after purchasing an additional 80,977 shares during the period. 34.70% of the stock is currently 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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