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

Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of Syntel from a c+ rating to a b- rating in a research report on Wednesday, May 23rd. Barrington Research restated a hold rating on shares of Syntel in a research report on Tuesday, July 3rd. Wellington Shields cut shares of Syntel from a gradually accumulate rating to a hold rating in a research report on Wednesday, June 6th. Zacks Investment Research cut shares of Syntel from a buy rating to a hold rating in a research report on Saturday, June 23rd. Finally, Cantor Fitzgerald restated a hold rating and set a $41.00 price objective on shares of Syntel in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $29.00.

NASDAQ:SYNT opened at $40.94 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.70. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 2.07 and a beta of 0.80. Syntel has a fifty-two week low of $18.10 and a fifty-two week high of $41.05.

Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Thursday, July 26th. The information technology services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. The company had revenue of $249.70 million during the quarter. Syntel had a net margin of 18.42% and a return on equity of 3,237.31%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. equities research analysts predict that Syntel will post 1.97 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of SYNT. Schroder Investment Management Group raised its position in shares of Syntel by 388.4% in the first quarter. Schroder Investment Management Group now owns 1,066,785 shares of the information technology services provider’s stock valued at $27,235,000 after buying an additional 848,366 shares during the last quarter. BlackRock Inc. raised its position in shares of Syntel by 22.8% in the second quarter. BlackRock Inc. now owns 2,904,304 shares of the information technology services provider’s stock valued at $93,201,000 after buying an additional 539,029 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Syntel by 319.9% in the second quarter. Acadian Asset Management LLC now owns 540,752 shares of the information technology services provider’s stock valued at $17,351,000 after buying an additional 411,957 shares during the last quarter. Millennium Management LLC raised its position in shares of Syntel by 57.1% in the first quarter. Millennium Management LLC now owns 595,458 shares of the information technology services provider’s stock valued at $15,202,000 after buying an additional 216,499 shares during the last quarter. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Syntel in the second quarter valued at about $5,863,000. Institutional investors and hedge funds own 40.78% of the company’s stock.

About Syntel

Syntel, Inc provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom segments. It provides end-to-end, integrated application, and infrastructure management services; develops software applications; and offers legacy modernization services, such as software analysis, language conversion, reverse engineering, database migration, code optimization, cloud onboarding and migration, ecosystem migration, testing, and management.

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Analyst Recommendations for Syntel (NASDAQ:SYNT)

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