Syntel (SYNT) Stock Rating Lowered by BidaskClub
Syntel (NASDAQ:SYNT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.
Several other brokerages have also recently commented on SYNT. Wells Fargo & Co cut shares of Syntel from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $24.16 to $21.00 in a research note on Friday. ValuEngine downgraded shares of Syntel from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Friday, October 20th. Cowen restated a “hold” rating and issued a $18.00 target price on shares of Syntel in a report on Thursday, October 12th. Finally, JPMorgan Chase & Co. downgraded shares of Syntel from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Syntel currently has a consensus rating of “Hold” and a consensus price target of $23.31.
Shares of Syntel (NASDAQ:SYNT) traded down $1.17 during mid-day trading on Friday, reaching $22.99. 800,480 shares of the company’s stock traded hands, compared to its average volume of 352,138. The stock has a market cap of $1,900.00, a PE ratio of 11.21, a P/E/G ratio of 1.29 and a beta of 1.11. Syntel has a 1-year low of $15.82 and a 1-year high of $26.33. The company has a debt-to-equity ratio of -5.69, a quick ratio of 2.07 and a current ratio of 2.07.
In other news, insider Daniel M. Moore sold 1,080 shares of the business’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 sale, the insider now directly owns 22,963 shares in the company, valued at approximately $555,474.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 4,769 shares of company stock worth $119,266. Insiders own 61.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Group One Trading L.P. grew its holdings 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 last quarter. UBS Asset Management Americas Inc. bought a new position in Syntel during the 2nd quarter valued at about $181,000. Legal & General Group Plc grew its holdings in Syntel by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after purchasing an additional 881 shares during the last quarter. PEAK6 Investments L.P. bought a new position in Syntel during the 3rd quarter valued at about $223,000. Finally, Voya Investment Management LLC grew its holdings in Syntel by 14.7% during the 2nd quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock valued at $272,000 after purchasing an additional 2,054 shares during the last quarter. Institutional investors own 36.61% of the company’s stock.
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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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