Syntel (SYNT) Cut to “Hold” at Zacks Investment Research

Syntel (NASDAQ:SYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, December 20th.

According to Zacks, “Syntel is a worldwide provider of advanced technology services to Fortune 1000 companies, as well as to government entities. Their service offerings are grouped into three segments: e-Business, Application Outsourcing, and Teamsourcing. E-Business consists of practice areas in Web Solutions, Customer Relationship Management, Data Warehousing/Business Intelligence, and Enterprise Application Outsourcing services. “

A number of other equities analysts have also commented on the company. BidaskClub lowered Syntel from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. JPMorgan Chase & Co. downgraded Syntel from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Cowen reaffirmed a “hold” rating and issued a $20.00 target price on shares of Syntel in a report on Thursday, October 19th. Finally, TheStreet raised Syntel from a “d+” rating to a “c” rating in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Syntel currently has a consensus rating of “Hold” and a consensus price target of $23.31.

Syntel (NASDAQ SYNT) traded down $0.23 during trading hours on Wednesday, reaching $23.50. The company’s stock had a trading volume of 457,615 shares, compared to its average volume of 351,000. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69. The company has a market capitalization of $1,950.00, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. Syntel has a 12-month low of $15.82 and a 12-month high of $26.33.

Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The firm had revenue of $231.34 million for the quarter. During the same quarter last year, the business earned $0.63 EPS. Syntel’s revenue was down 4.1% on a year-over-year basis. equities research analysts forecast that Syntel will post 1.87 earnings per share for the current fiscal year.

In related news, insider Daniel M. Moore sold 1,080 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total transaction of $26,125.20. Following the sale, the insider now owns 22,963 shares of the company’s stock, valued at approximately $555,474.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 4,769 shares of company stock worth $119,266. 61.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Group One Trading L.P. raised its position in shares of Syntel by 52.2% in the 3rd quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock worth $143,000 after acquiring an additional 2,498 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Syntel in the 2nd quarter worth about $181,000. Legal & General Group Plc raised its position 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 worth $202,000 after acquiring an additional 881 shares in the last quarter. PEAK6 Investments L.P. bought a new position in shares of Syntel in the 3rd quarter worth about $223,000. Finally, Voya Investment Management LLC raised its position 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 worth $272,000 after acquiring an additional 2,054 shares in the last quarter. 36.61% of the stock is currently owned by hedge funds and other institutional investors.

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About Syntel

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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