Syntel, Inc. (SYNT) Given Average Rating of “Hold” by Brokerages

Shares of Syntel, Inc. (NASDAQ:SYNT) have earned a consensus rating of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $22.12.

Several research firms recently weighed in on SYNT. JPMorgan Chase & Co. lowered Syntel from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered Syntel from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Needham & Company LLC lowered Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Syntel in a research note on Thursday, December 21st. Finally, BidaskClub lowered Syntel from a “buy” rating to a “hold” rating in a research note on Friday, December 15th.

In other news, insider Daniel M. Moore sold 1,080 shares of Syntel stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total transaction of $26,125.20. Following the sale, the insider now directly owns 22,963 shares of the company’s stock, valued at $555,474.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,944 shares of company stock worth $99,584 over the last three months. Insiders own 61.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Group One Trading L.P. boosted its stake in shares of Syntel by 52.2% during the third 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Syntel during the fourth quarter valued at about $144,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Syntel during the second quarter valued at about $181,000. Legal & General Group Plc boosted its stake in shares of Syntel by 8.0% during the second 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 in the last quarter. Finally, PEAK6 Investments L.P. acquired a new stake in shares of Syntel during the third quarter valued at about $223,000. 36.60% of the stock is currently owned by hedge funds and other institutional investors.

Syntel (NASDAQ SYNT) traded up $0.07 during trading hours on Friday, reaching $23.61. The company had a trading volume of 462,696 shares, compared to its average volume of 365,103. The firm has a market capitalization of $1,950.38, a price-to-earnings ratio of 11.52, a PEG ratio of 1.29 and a beta of 1.11. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69. Syntel has a fifty-two week low of $15.82 and a fifty-two week high of $26.33.

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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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