William Blair Weighs in on Syntel, Inc.’s FY2017 Earnings (SYNT)

Syntel, Inc. (NASDAQ:SYNT) – Analysts at William Blair raised their FY2017 EPS estimates for Syntel in a research report issued on Tuesday. William Blair analyst A. Doradla now expects that the information technology services provider will post earnings of $1.85 per share for the year, up from their previous forecast of $1.70. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Syntel’s Q4 2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.47 EPS and FY2018 earnings at $1.77 EPS.

Several other research firms also recently weighed in on SYNT. Needham & Company LLC lifted their price target on shares of Syntel from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. Loop Capital reaffirmed a “buy” rating and set a $28.00 price target on shares of Syntel in a research note on Wednesday. They noted that the move was a valuation call. TheStreet raised shares of Syntel from a “d+” rating to a “c” rating in a research note on Tuesday. Cowen and Company reaffirmed a “hold” rating and set a $18.00 price target on shares of Syntel in a research note on Thursday, October 12th. Finally, ValuEngine raised shares of Syntel from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Syntel currently has an average rating of “Hold” and an average target price of $22.10.

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Syntel (SYNT) opened at 23.67 on Thursday. The firm’s 50-day moving average price is $19.21 and its 200-day moving average price is $18.03. Syntel has a 52-week low of $15.82 and a 52-week high of $25.80. The company’s market cap is $1.98 billion.

Syntel (NASDAQ:SYNT) last released its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.17. The business had revenue of $231.34 million during the quarter. Syntel had a negative return on equity of 119.25% and a net margin of 18.64%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS.

Syntel declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 20th that allows the company to buyback $60.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge funds have recently modified their holdings of the stock. Swiss National Bank increased its holdings in Syntel by 5.5% during the first quarter. Swiss National Bank now owns 55,300 shares of the information technology services provider’s stock valued at $931,000 after buying an additional 2,900 shares during the period. AXA purchased a new position in Syntel during the second quarter valued at approximately $1,046,000. Prudential Financial Inc. purchased a new position in Syntel during the second quarter valued at approximately $1,082,000. Freestone Capital Holdings LLC increased its holdings in Syntel by 6.7% during the second quarter. Freestone Capital Holdings LLC now owns 735,111 shares of the information technology services provider’s stock valued at $12,467,000 after buying an additional 46,174 shares during the period. Finally, Clark Estates Inc. NY increased its holdings in Syntel by 19.9% during the second quarter. Clark Estates Inc. NY now owns 181,000 shares of the information technology services provider’s stock valued at $3,070,000 after buying an additional 30,000 shares during the period. 34.70% of the stock is currently owned by institutional investors.

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.

Earnings History and Estimates for Syntel (NASDAQ:SYNT)

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