Syntel, Inc. (NASDAQ:SYNT)’s share price traded down 7% on Thursday . The company traded as low as $31.40 and last traded at $31.69. 665,400 shares traded hands during trading, an increase of 43% from the average session volume of 466,139 shares. The stock had previously closed at $34.07.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Syntel from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, May 1st. TheStreet raised shares of Syntel from a “c+” rating to a “b-” rating in a research note on Wednesday, May 23rd. Cantor Fitzgerald reissued a “neutral” rating on shares of Syntel in a research note on Thursday, April 19th. BidaskClub raised shares of Syntel from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Finally, Barrington Research reissued a “hold” rating on shares of Syntel in a research note on Thursday, May 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Syntel presently has a consensus rating of “Hold” and an average target price of $24.75.
The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 2.19 and a beta of 0.76. The company has a debt-to-equity ratio of 7.25, a quick ratio of 1.83 and a current ratio of 1.83.
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 analysts’ consensus estimates of $0.44 by $0.11. The business had revenue of $245.35 million during the quarter. Syntel had a net margin of 18.40% and a negative return on equity of 504.52%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. equities analysts anticipate that Syntel, Inc. will post 1.93 earnings per share for the current fiscal year.
In other Syntel news, SVP Murlidhar Reddy sold 2,000 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $32.85, for a total value of $65,700.00. Following the completion of the sale, the senior vice president now directly owns 36,889 shares in the company, valued at $1,211,803.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 6,077 shares of company stock valued at $200,710 over the last 90 days. Corporate insiders own 58.10% of the company’s stock.
A number of large investors have recently bought and sold shares of SYNT. Schwab Charles Investment Management Inc. grew its holdings in Syntel by 57.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 321,356 shares of the information technology services provider’s stock worth $7,388,000 after purchasing an additional 117,309 shares during the period. SG Americas Securities LLC acquired a new stake in Syntel in the fourth quarter worth $144,000. Comerica Bank acquired a new stake in Syntel in the fourth quarter worth $213,000. Teacher Retirement System of Texas acquired a new position in shares of Syntel during the fourth quarter valued at about $265,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Syntel by 73.2% during the fourth quarter. Wells Fargo & Company MN now owns 127,988 shares of the information technology services provider’s stock valued at $2,942,000 after buying an additional 54,106 shares during the last quarter. Institutional investors and hedge funds own 40.01% of the company’s stock.
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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