Syntel (NASDAQ:SYNT) was downgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a report issued on Thursday.
A number of other equities research analysts have also recently weighed in on SYNT. Zacks Investment Research cut Syntel from a “buy” rating to a “hold” rating in a research note on Saturday, June 23rd. Barrington Research restated a “hold” rating on shares of Syntel in a research note on Thursday, May 24th. BidaskClub upgraded Syntel from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. SunTrust Banks restated a “hold” rating and issued a $29.00 price target on shares of Syntel in a research note on Friday, April 20th. Finally, Wellington Shields cut Syntel from a “gradually accumulate” rating to a “hold” rating in a research note on Wednesday, June 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.75.
SYNT opened at $32.09 on Thursday. Syntel has a 1-year low of $15.88 and a 1-year high of $34.19. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 7.25. The firm has a market capitalization of $2.62 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 2.18 and a beta of 0.76.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, April 19th. The information technology services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.11. Syntel had a negative return on equity of 504.52% and a net margin of 18.40%. The business had revenue of $245.35 million for the quarter. During the same quarter last year, the company posted $0.46 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. equities analysts expect that Syntel will post 1.93 earnings per share for the current year.
In other Syntel news, SVP Murlidhar Reddy sold 2,000 shares of the stock in a transaction on Friday, June 8th. The stock was sold at an average price of $32.85, for a total transaction of $65,700.00. Following the transaction, the senior vice president now owns 36,889 shares in the company, valued at approximately $1,211,803.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 6,077 shares of company stock worth $200,710 in the last quarter. Company insiders own 58.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. increased its position in Syntel by 1,208.5% during 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 period. SG Americas Securities LLC bought a new position in Syntel during the 4th quarter worth $144,000. Meeder Asset Management Inc. increased its position in Syntel by 265.2% during the 1st quarter. Meeder Asset Management Inc. now owns 5,807 shares of the information technology services provider’s stock worth $148,000 after buying an additional 4,217 shares during the period. Victory Capital Management Inc. bought a new position in Syntel during the 1st quarter worth $174,000. Finally, Comerica Bank bought a new position in Syntel during the 4th quarter worth $213,000. Hedge funds and other institutional investors own 40.00% of the company’s stock.
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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