Syntel, Inc. (NASDAQ:SYNT) has been given a consensus recommendation of “Hold” by the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $26.60.
A number of equities research analysts have recently commented on SYNT shares. BidaskClub cut Syntel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 23rd. Zacks Investment Research cut Syntel from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. ValuEngine cut Syntel from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Maxim Group restated a “hold” rating on shares of Syntel in a research report on Thursday, February 15th. Finally, William Blair restated a “market perform” rating on shares of Syntel in a research report on Thursday, February 15th.
In related news, Chairman Prashant Ranade sold 50,000 shares of Syntel stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $27.18, for a total value of $1,359,000.00. Following the sale, the chairman now directly owns 257,933 shares in the company, valued at approximately $7,010,618.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel M. Moore sold 2,000 shares of Syntel stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $26.69, for a total value of $53,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,800 shares of company stock worth $1,460,368. 61.10% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of SYNT. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Syntel by 1,208.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,679 shares of the information technology services provider’s stock worth $130,000 after buying an additional 5,245 shares during the last quarter. SG Americas Securities LLC purchased a new position in Syntel in the 4th quarter worth approximately $144,000. Meeder Asset Management Inc. lifted its stake in Syntel by 265.2% in the 1st quarter. Meeder Asset Management Inc. now owns 5,807 shares of the information technology services provider’s stock worth $148,000 after purchasing an additional 4,217 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Syntel in the 1st quarter worth approximately $174,000. Finally, Comerica Bank purchased a new position in Syntel in the 4th quarter worth approximately $213,000. Institutional investors own 40.66% of the company’s stock.
NASDAQ:SYNT opened at $30.07 on Monday. Syntel has a 52 week low of $29.73 and a 52 week high of $30.33. The company has a debt-to-equity ratio of 7.25, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market cap of $2.47 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.05 and a beta of 0.73.
Syntel (NASDAQ:SYNT) last posted its earnings results on Thursday, April 19th. The information technology services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.11. Syntel had a negative return on equity of 504.52% and a net margin of 18.40%. The firm had revenue of $245.35 million for the quarter. During the same quarter last year, the business earned $0.46 earnings per share. Syntel’s revenue was up 8.6% on a year-over-year basis. analysts expect that Syntel will post 1.93 EPS for the current fiscal year.
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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