BidaskClub Downgrades Syntel (SYNT) to Hold

Syntel (NASDAQ:SYNT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.

SYNT has been the subject of a number of other reports. Zacks Investment Research cut shares of Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Cowen 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 shares of Syntel from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. SunTrust Banks reissued a “hold” rating and issued a $20.00 price objective on shares of Syntel in a research note on Tuesday, October 17th. 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Syntel currently has an average rating of “Hold” and an average price target of $23.10.

Shares of Syntel (SYNT) traded up $0.31 during trading on Friday, reaching $25.57. 492,701 shares of the company were exchanged, compared to its average volume of 341,293. Syntel has a 12 month low of $15.82 and a 12 month high of $25.90. The company has a market capitalization of $2,092.89, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of -5.69.

Syntel (NASDAQ:SYNT) last announced 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. 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 during the quarter. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. equities research analysts predict that Syntel will post 1.87 earnings per share for the current fiscal year.

In other 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 completion of the sale, the insider now owns 22,963 shares in the company, valued at approximately $555,474.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,769 shares of company stock valued at $119,266 in the last quarter. 61.10% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Group One Trading L.P. increased its position in Syntel by 52.2% during the 3rd quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock valued at $143,000 after purchasing an additional 2,498 shares during the period. UBS Asset Management Americas Inc. purchased a new position in shares of Syntel in the 2nd quarter worth approximately $181,000. Legal & General Group Plc grew its position in shares of Syntel by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after buying an additional 881 shares during the last quarter. PEAK6 Investments L.P. purchased a new position in shares of Syntel in the 3rd quarter worth approximately $223,000. Finally, Voya Investment Management LLC grew its position in shares of Syntel by 14.7% in the 2nd quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock worth $272,000 after buying an additional 2,054 shares during the last quarter. 36.61% of the stock is currently owned by institutional investors.

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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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