Shares of Syntel, Inc. (NASDAQ:SYNT) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $22.54.

Several research analysts have issued reports on SYNT shares. Cowen and Company reissued a “hold” rating and set a $20.00 price objective on shares of Syntel in a research report on Thursday. TheStreet raised shares of Syntel from a “d+” rating to a “c” rating in a research report on Tuesday. Needham & Company LLC raised their price objective on shares of Syntel from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. They noted that the move was a valuation call. Loop Capital reissued a “buy” rating and set a $28.00 price objective on shares of Syntel in a research report on Wednesday. They noted that the move was a valuation call. Finally, William Blair raised shares of Syntel from an “underperform” rating to a “market perform” rating in a research report on Tuesday.

Shares of Syntel (NASDAQ SYNT) traded up 1.35% during midday trading on Thursday, hitting $23.99. 1,485,603 shares of the stock were exchanged. The stock has a 50 day moving average price of $19.21 and a 200-day moving average price of $18.03. The company’s market cap is $2.01 billion. Syntel has a 12 month low of $15.82 and a 12 month high of $25.80.

Syntel (NASDAQ:SYNT) last posted its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.17. The firm had revenue of $231.34 million for the quarter, compared to the consensus estimate of $218.19 million. Syntel had a net margin of 18.64% and a negative return on equity of 119.25%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. On average, analysts predict that Syntel will post $1.73 EPS for the current year.

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

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Several hedge funds have recently added to or reduced their stakes in SYNT. Swiss National Bank lifted its stake in shares of Syntel by 5.5% in the 1st quarter. Swiss National Bank now owns 55,300 shares of the information technology services provider’s stock worth $931,000 after acquiring an additional 2,900 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Syntel by 26.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 27,503 shares of the information technology services provider’s stock worth $463,000 after acquiring an additional 5,832 shares during the period. American International Group Inc. lifted its stake in shares of Syntel by 7.1% in the 1st quarter. American International Group Inc. now owns 19,894 shares of the information technology services provider’s stock worth $335,000 after acquiring an additional 1,323 shares during the period. Vanguard Group Inc. lifted its stake in shares of Syntel by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 2,593,466 shares of the information technology services provider’s stock worth $43,649,000 after acquiring an additional 80,485 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Syntel by 9.1% in the 1st quarter. Geode Capital Management LLC now owns 417,791 shares of the information technology services provider’s stock worth $7,031,000 after acquiring an additional 34,680 shares during the period. Institutional investors own 34.70% of the company’s stock.

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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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