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.

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

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.

COPYRIGHT VIOLATION NOTICE: “Syntel (SYNT) Stock Rating Lowered by BidaskClub” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/12/30/syntel-synt-stock-rating-lowered-by-bidaskclub.html.

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)

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.