Syntel (NASDAQ:SYNT) was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a note issued to investors on Tuesday, Marketbeat.com reports.

A number of other research analysts have also weighed in on the stock. ValuEngine lowered shares of Syntel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Cowen reaffirmed a “hold” rating and issued a $18.00 price target on shares of Syntel in a research note on Thursday, October 12th. TheStreet raised shares of Syntel from a “d+” rating to a “c” rating in a research note on Tuesday, October 17th. Finally, Needham & Company LLC raised their price target on shares of Syntel from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Syntel presently has an average rating of “Hold” and a consensus target price of $23.10.

Syntel (NASDAQ SYNT) traded up $0.19 during mid-day trading on Tuesday, hitting $25.87. 229,600 shares of the stock traded hands, compared to its average volume of 517,978. The company has a debt-to-equity ratio of -5.69, a quick ratio of 2.07 and a current ratio of 2.07. Syntel has a twelve month low of $15.82 and a twelve month high of $25.90. The stock has a market cap of $2,127.69, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.37 and a beta of 1.12.

Syntel (NASDAQ:SYNT) last posted its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The business had revenue of $231.34 million for the quarter. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. research analysts expect that Syntel will post 1.87 EPS for the current year.

In related news, insider Daniel M. Moore sold 1,080 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total value of $26,125.20. Following the transaction, the insider now directly owns 22,963 shares of the company’s stock, valued at approximately $555,474.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,736 shares of company stock worth $118,425 over the last ninety days. 61.10% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in Syntel by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,574 shares of the information technology services provider’s stock worth $468,000 after purchasing an additional 683 shares in the last quarter. AXA purchased a new position in Syntel in the 2nd quarter worth approximately $1,046,000. Goldman Sachs Group Inc. lifted its stake in Syntel by 166.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 67,423 shares of the information technology services provider’s stock worth $1,143,000 after purchasing an additional 42,160 shares in the last quarter. Prudential Financial Inc. purchased a new position in Syntel in the 2nd quarter worth approximately $1,082,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Syntel during the 3rd quarter worth approximately $2,459,000. 36.61% of the stock is currently owned by institutional investors and hedge funds.

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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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