Syntel (SYNT) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Syntel (NASDAQ:SYNT) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research analysts have also weighed in on the company. J P Morgan Chase & Co lowered Syntel from a neutral rating to an underweight rating in a research report on Tuesday, December 12th. ValuEngine raised Syntel from a hold rating to a buy rating in a research report on Thursday, November 9th. Zacks Investment Research raised Syntel from a hold rating to a buy rating and set a $27.00 target price on the stock in a research report on Friday, October 20th. Cowen reaffirmed a hold rating and issued a $20.00 target price on shares of Syntel in a research report on Thursday, October 19th. Finally, TheStreet raised Syntel from a d+ rating to a c rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $23.10.

Syntel (NASDAQ SYNT) opened at $26.21 on Friday. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $2,118.58, a price-to-earnings ratio of 12.91, a P/E/G ratio of 1.37 and a beta of 1.12. Syntel has a 52-week low of $15.82 and a 52-week high of $26.24.

Syntel (NASDAQ:SYNT) last issued its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share 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 negative return on equity of 137.94% and a net margin of 18.64%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. analysts predict that Syntel will post 1.87 earnings per share for the current fiscal year.

In other Syntel news, insider Daniel M. Moore sold 1,080 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total value of $26,125.20. Following the transaction, the insider now directly owns 22,963 shares of the company’s stock, valued at $555,474.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,769 shares of company stock worth $119,266 over the last three months. 61.10% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Group One Trading L.P. raised its position in Syntel by 52.2% in 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 during the period. UBS Asset Management Americas Inc. purchased a new position in Syntel in the second quarter valued at about $181,000. Legal & General Group Plc grew 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 acquiring an additional 881 shares in the last quarter. PEAK6 Investments L.P. acquired a new stake in shares of Syntel during the third quarter valued at about $223,000. Finally, Voya Investment Management LLC grew its stake in shares of Syntel by 14.7% during the second quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock valued at $272,000 after acquiring an additional 2,054 shares in the last quarter. 36.61% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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