Wall Street analysts expect Syntel, Inc. (NASDAQ:SYNT) to report sales of $241.07 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Syntel’s earnings, with the lowest sales estimate coming in at $232.15 million and the highest estimate coming in at $252.25 million. Syntel reported sales of $231.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The business is expected to report its next quarterly earnings report on Tuesday, October 16th.

On average, analysts expect that Syntel will report full year sales of $976.06 million for the current fiscal year, with estimates ranging from $948.90 million to $996.49 million. For the next fiscal year, analysts forecast that the business will report sales of $1.00 billion per share, with estimates ranging from $978.00 million to $1.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Syntel.

Syntel (NASDAQ:SYNT) last issued its earnings results on Thursday, July 26th. The information technology services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. Syntel had a return on equity of 3,237.31% and a net margin of 18.42%. The business had revenue of $249.70 million for the quarter. During the same quarter in the prior year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis.

Several analysts have commented on the company. Zacks Investment Research upgraded Syntel from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, May 1st. Loop Capital downgraded Syntel from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. TheStreet upgraded Syntel from a “c+” rating to a “b-” rating in a research note on Wednesday, May 23rd. BidaskClub upgraded Syntel from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Finally, Barrington Research restated a “hold” rating on shares of Syntel in a research note on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $29.00.

In other news, insider Murlidhar Reddy sold 4,000 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $33.18, for a total value of $132,720.00. Following the transaction, the insider now directly owns 36,889 shares in the company, valued at approximately $1,223,977.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 58.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SYNT. Meeder Asset Management Inc. boosted its stake in shares of Syntel by 265.2% in the 1st quarter. Meeder Asset Management Inc. now owns 5,807 shares of the information technology services provider’s stock worth $148,000 after buying an additional 4,217 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Syntel in the 1st quarter worth $174,000. Trexquant Investment LP purchased a new position in shares of Syntel in the 1st quarter worth $229,000. Teacher Retirement System of Texas purchased a new position in shares of Syntel in the 2nd quarter worth $243,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Syntel in the 1st quarter worth $248,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

Shares of SYNT opened at $40.57 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 3.70. Syntel has a 12 month low of $17.78 and a 12 month high of $40.89. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.80.

About Syntel

Syntel, Inc engages in the provision of digital transformation, information technology and knowledge process outsourcing services. It operates through the following segments: Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics and Telecom. The Banking and Financial Services segment assists clients in the areas, such as cards and payments, retail banking, wholesale banking, consumer lending, risk management, investment banking, reconciliations, fraud analysis, mobile banking, and compliance and securities services.

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Earnings History and Estimates for Syntel (NASDAQ:SYNT)

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