Syntel (NASDAQ:SYNT) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a research report issued on Thursday.
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Syntel from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Friday, October 20th. William Blair upgraded shares of Syntel from an “underperform” rating to an “outperform” rating in a research report on Tuesday, October 17th. Cowen restated a “hold” rating and issued a $20.00 price objective on shares of Syntel in a research report on Thursday, October 19th. Finally, Robert W. Baird restated a “hold” rating and issued a $20.00 price objective on shares of Syntel in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Syntel presently has an average rating of “Hold” and a consensus price target of $23.10.
Syntel (SYNT) opened at $25.56 on Thursday. The company has a market cap of $2,120.23, a PE ratio of 12.92, a PEG ratio of 1.37 and a beta of 1.12. Syntel has a 1-year low of $15.82 and a 1-year high of $26.33. 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 Syntel stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 4,769 shares of company stock valued at $119,266. 61.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SYNT. Sather Financial Group Inc bought a new position in Syntel during the 2nd quarter worth approximately $8,400,000. Dimensional Fund Advisors LP lifted its position in Syntel by 75.4% during the second quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock worth $15,661,000 after purchasing an additional 397,034 shares during the period. Vanguard Group Inc. lifted its position in Syntel by 5.0% during the second quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock worth $46,198,000 after purchasing an additional 130,471 shares during the period. Bridge City Capital LLC bought a new stake in Syntel during the second quarter worth about $1,771,000. Finally, Teachers Advisors LLC lifted its position in Syntel by 128.4% during the second quarter. Teachers Advisors LLC now owns 144,065 shares of the information technology services provider’s stock worth $2,443,000 after purchasing an additional 80,977 shares during the period. 36.61% of the stock is currently owned by institutional investors and hedge funds.
Syntel Company Profile
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.
