Shares of Syntel, Inc. (NASDAQ:SYNT) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are covering the firm. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $30.20.
A number of analysts have recently issued reports on SYNT shares. Zacks Investment Research cut Syntel from a “hold” rating to a “strong sell” rating in a report on Thursday, December 22nd. Vetr cut Syntel from a “strong-buy” rating to a “buy” rating and set a $25.81 target price for the company. in a report on Thursday, February 16th. Needham & Company LLC decreased their price target on Syntel from $27.00 to $23.00 and set a “buy” rating for the company in a report on Friday, February 17th. Cowen and Company initiated coverage on Syntel in a report on Wednesday, January 18th. They issued a “market perform” rating and a $23.00 price target for the company. Finally, Loop Capital initiated coverage on Syntel in a research report on Tuesday, January 10th. They issued a “buy” rating and a $27.00 target price on the stock.
Syntel (NASDAQ:SYNT) traded up 2.99% during trading on Friday, reaching $17.21. 1,851,333 shares of the company traded hands. The firm has a 50-day moving average price of $17.13 and a 200-day moving average price of $20.13. Syntel has a 52 week low of $15.82 and a 52 week high of $48.41. The company’s market capitalization is $1.44 billion.
Syntel (NASDAQ:SYNT) last issued its earnings results on Thursday, April 20th. The information technology services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. Syntel had a positive return on equity of 28.09% and a negative net margin of 3.17%. The business earned $225.87 million during the quarter. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. Analysts forecast that Syntel will post $1.89 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in Syntel during the third quarter valued at about $1,951,000. First New York Securities LLC NY acquired a new position in Syntel during the third quarter valued at about $2,567,000. Moody Aldrich Partners LLC boosted its position in Syntel by 11.5% in the third quarter. Moody Aldrich Partners LLC now owns 29,620 shares of the information technology services provider’s stock valued at $1,241,000 after buying an additional 3,050 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in Syntel during the third quarter valued at about $566,000. Finally, GHP Investment Advisors Inc. boosted its position in Syntel by 1.9% in the third quarter. GHP Investment Advisors Inc. now owns 39,639 shares of the information technology services provider’s stock valued at $1,661,000 after buying an additional 725 shares during the last quarter. 34.30% of the stock is 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.
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