Robert W. Baird Reaffirms “Hold” Rating for Syntel (SYNT)
Robert W. Baird reaffirmed their hold rating on shares of Syntel (NASDAQ:SYNT) in a research report released on Thursday morning. The firm currently has a $24.00 price objective on the information technology services provider’s stock.
SYNT has been the subject of a number of other research reports. Zacks Investment Research cut shares of Syntel from a buy rating to a hold rating in a research note on Thursday, August 24th. ValuEngine raised shares of Syntel from a hold rating to a buy rating in a research note on Thursday, November 9th. Cowen reissued a hold rating and set a $18.00 target price on shares of Syntel in a research note on Thursday, October 12th. SunTrust Banks reissued a hold rating and set a $20.00 target price on shares of Syntel in a research note on Tuesday, October 17th. Finally, BidaskClub cut shares of Syntel from a buy rating to a hold rating in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $23.60.
Syntel (NASDAQ SYNT) opened at $24.73 on Thursday. The firm has a market cap of $2,030.00, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.33 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 current ratio of 2.07 and a quick ratio of 2.07.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. The business had revenue of $231.34 million during the quarter. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. sell-side analysts expect that Syntel will post 1.87 EPS for the current year.
In related news, insider Daniel M. Moore sold 1,080 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $555,474.97. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, 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 hedge funds and other institutional investors have recently made changes to their positions in SYNT. Group One Trading L.P. grew its stake 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 acquiring an additional 2,498 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Syntel in the 2nd quarter valued at approximately $181,000. Legal & General Group Plc grew its stake in shares of Syntel by 8.0% in 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 buying an additional 881 shares during the period. PEAK6 Investments L.P. purchased a new stake in shares of Syntel in the 3rd quarter valued at approximately $223,000. Finally, Voya Investment Management LLC grew its stake in shares of Syntel by 14.7% in 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 buying an additional 2,054 shares during the period. 36.61% of the stock is owned by institutional investors.
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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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