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.
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.
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.
Receive News & Ratings for Syntel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel and related companies with MarketBeat.com's FREE daily email newsletter.