ValuEngine Downgrades Syntel (SYNT) to Hold
ValuEngine lowered shares of Syntel (NASDAQ:SYNT) from a buy rating to a hold rating in a report published on Friday morning.
A number of other analysts also recently issued reports on SYNT. Cowen reiterated a hold rating and set a $18.00 price target on shares of Syntel in a research report on Thursday, October 12th. SunTrust Banks restated a hold rating and issued a $20.00 target price on shares of Syntel in a research report on Tuesday, October 17th. William Blair upgraded Syntel from an underperform rating to an outperform rating in a research report on Tuesday, October 17th. Loop Capital restated a buy rating and issued a $28.00 target price on shares of Syntel in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Needham & Company LLC boosted their target price on Syntel from $23.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Syntel currently has a consensus rating of Hold and a consensus target price of $23.31.
Shares of Syntel (NASDAQ SYNT) opened at $21.27 on Friday. The stock has a market capitalization of $1,760.00, a PE ratio of 10.38, a PEG ratio of 1.22 and a beta of 1.01. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of -5.69. Syntel has a 12-month low of $15.82 and a 12-month high of $26.33.
Hedge funds have recently made changes to their positions in the business. Group One Trading L.P. lifted 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 last quarter. SG Americas Securities LLC bought a new stake in Syntel in the fourth quarter valued at approximately $144,000. UBS Asset Management Americas Inc. bought a new stake in Syntel in the second quarter valued at approximately $181,000. Legal & General Group Plc lifted its position in Syntel by 8.0% in 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 during the last quarter. Finally, Comerica Bank bought a new stake in Syntel in the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 36.66% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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