Cantor Fitzgerald restated their neutral rating on shares of Syntel (NASDAQ:SYNT) in a report published on Thursday morning.
“1Q18 revenues and EPS top expectations. Syntel reported 1Q18 revenue of $245.3 million, up 8.6% y/y and 2.3% q/q, well above our $228 million estimate and the FactSet consensus of $227 million. Gross margin of 37.2% was well above our estimate of 34.9%. SG&A of $27.0 million was below our $29.6 million estimate. Operating margin of 26.2% was well above our 21.9% estimate. EPS of $0.55 was well above our estimate of $0.42 and consensus of $0.44. See p. 2 for a comparison of present quarterly results to the same quarter last year and our estimates.”,” Cantor Fitzgerald’s analyst commented.
Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Syntel from a strong sell rating to a sell rating in a report on Wednesday, February 21st. William Blair restated a market perform rating on shares of Syntel in a report on Thursday, February 15th. Maxim Group restated a hold rating on shares of Syntel in a report on Thursday, February 15th. Barrington Research restated a hold rating on shares of Syntel in a report on Monday, February 26th. Finally, ValuEngine cut shares of Syntel from a buy rating to a hold rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $24.13.
NASDAQ SYNT opened at $28.14 on Thursday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of -25.89. The stock has a market capitalization of $2,313.07, a PE ratio of 13.93, a P/E/G ratio of 1.99 and a beta of 0.74. Syntel has a 12 month low of $15.88 and a 12 month high of $28.45.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, April 19th. The information technology services provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.11. The firm had revenue of $245.35 million for the quarter, compared to analysts’ expectations of $228.02 million. Syntel had a net margin of 18.40% and a negative return on equity of 304.22%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. equities research analysts anticipate that Syntel will post 1.87 earnings per share for the current year.
In other Syntel news, Chairman Prashant Ranade sold 50,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $27.18, for a total transaction of $1,359,000.00. Following the transaction, the chairman now directly owns 257,933 shares in the company, valued at approximately $7,010,618.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Rahul B. Aggarwal sold 1,800 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $26.66, for a total transaction of $47,988.00. Following the transaction, the vice president now owns 10,430 shares in the company, valued at $278,063.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,800 shares of company stock worth $1,460,368. 61.10% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of SYNT. Bank of New York Mellon Corp grew its holdings in Syntel by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 144,928 shares of the information technology services provider’s stock worth $2,847,000 after acquiring an additional 14,148 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Syntel by 9.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 204,047 shares of the information technology services provider’s stock worth $4,010,000 after acquiring an additional 18,368 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Syntel by 19.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,103,778 shares of the information technology services provider’s stock worth $21,689,000 after acquiring an additional 180,347 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Syntel during the 3rd quarter worth about $283,000. Finally, James Investment Research Inc. grew its holdings in Syntel by 27.8% during the 4th quarter. James Investment Research Inc. now owns 115,935 shares of the information technology services provider’s stock worth $2,665,000 after acquiring an additional 25,235 shares in the last quarter. Institutional investors own 40.41% of the company’s stock.
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Syntel Company Profile
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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