Equities analysts expect that Syntel, Inc. (NASDAQ:SYNT) will report sales of $214.67 million for the current quarter, according to Zacks. Six analysts have provided estimates for Syntel’s earnings. The highest sales estimate is $218.30 million and the lowest is $211.90 million. Syntel reported sales of $237.89 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.8%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 15th.
According to Zacks, analysts expect that Syntel will report full year sales of $214.67 million for the current fiscal year, with estimates ranging from $896.00 million to $902.32 million. For the next financial year, analysts anticipate that the business will report sales of $892.61 million per share, with estimates ranging from $880.00 million to $922.84 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Syntel.
Several equities research analysts have issued reports on the company. Needham & Company LLC lowered Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. They noted that the move was a valuation call. William Blair raised Syntel from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 17th. SunTrust Banks reaffirmed a “hold” rating and set a $20.00 price target on shares of Syntel in a research note on Tuesday, October 17th. BidaskClub lowered Syntel from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 23rd. Finally, ValuEngine lowered Syntel from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.31.
In other news, insider Daniel M. Moore sold 1,080 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total value of $26,125.20. Following the completion of 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 filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 3,944 shares of company stock valued at $99,584. 61.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYNT. Schwab Charles Investment Management Inc. lifted its stake in shares of Syntel by 24.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 185,679 shares of the information technology services provider’s stock valued at $3,150,000 after acquiring an additional 36,423 shares during the last quarter. Legal & General Group Plc increased its holdings in Syntel by 8.0% during the 2nd 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 period. Wells Fargo & Company MN increased its holdings in Syntel by 62.3% during the 2nd quarter. Wells Fargo & Company MN now owns 73,565 shares of the information technology services provider’s stock valued at $1,248,000 after purchasing an additional 28,247 shares during the period. Teachers Advisors LLC increased its holdings in Syntel by 128.4% during the 2nd quarter. Teachers Advisors LLC now owns 144,065 shares of the information technology services provider’s stock valued at $2,443,000 after purchasing an additional 80,977 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new position in Syntel during the 2nd quarter valued at about $181,000. 36.62% of the stock is owned by institutional investors.
Shares of Syntel (SYNT) remained flat at $$21.66 during mid-day trading on Friday. The stock had a trading volume of 438,868 shares, compared to its average volume of 426,953. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07. Syntel has a 52-week low of $15.82 and a 52-week high of $26.33. The stock has a market cap of $1,790.00, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01.
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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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