Jefferies Group Weighs in on Syntel Inc.’s Q4 2016 Earnings (SYNT)
Syntel Inc. (NASDAQ:SYNT) – Investment analysts at Jefferies Group lowered their Q4 2016 EPS estimates for shares of Syntel in a research note issued on Friday. Jefferies Group analyst J. Kupferberg now forecasts that the brokerage will earn $0.61 per share for the quarter, down from their prior forecast of $0.68. Jefferies Group also issued estimates for Syntel’s FY2017 earnings at $2.53 EPS.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Syntel had a net margin of 26.49% and a return on equity of 22.35%. The firm had revenue of $246 million for the quarter, compared to analyst estimates of $249.12 million. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year.
SYNT has been the subject of several other research reports. Cantor Fitzgerald set a $43.00 price target on shares of Syntel and gave the company a “hold” rating in a research report on Tuesday, September 13th. Barrington Research lowered shares of Syntel from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 22nd. Robert W. Baird upped their price objective on shares of Syntel from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, September 13th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Syntel in a research note on Monday, September 12th. Finally, Zacks Investment Research lowered shares of Syntel from a “hold” rating to a “sell” rating in a research note on Saturday, July 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Syntel currently has a consensus rating of “Hold” and a consensus target price of $47.83.
Syntel (NASDAQ:SYNT) opened at 41.09 on Monday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 13.13 and a beta of 1.07. Syntel has a one year low of $40.68 and a one year high of $50.92. The firm has a 50-day moving average of $44.27 and a 200-day moving average of $45.23.
The firm also recently declared a special dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be paid a dividend of $15.00 per share. This is a positive change from Syntel’s previous special dividend of $2.25. The ex-dividend date of this dividend is Tuesday, October 4th.
In other news, insider Anil Jain sold 1,250 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $45.60, for a total transaction of $57,000.00. Following the transaction, the insider now owns 13,940 shares in the company, valued at approximately $635,664. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Avinash Salelkar sold 943 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $45.79, for a total transaction of $43,179.97. Following the sale, the vice president now directly owns 15,021 shares of the company’s stock, valued at $687,811.59. The disclosure for this sale can be found here. Insiders own 61.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in Syntel by 9.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 158,887 shares of the company’s stock valued at $7,192,000 after buying an additional 14,119 shares in the last quarter. Stifel Financial Corp increased its stake in Syntel by 4.1% in the second quarter. Stifel Financial Corp now owns 23,350 shares of the company’s stock valued at $1,057,000 after buying an additional 922 shares in the last quarter. American Century Companies Inc. increased its stake in Syntel by 327.7% in the second quarter. American Century Companies Inc. now owns 46,217 shares of the company’s stock valued at $2,092,000 after buying an additional 35,410 shares in the last quarter. Legal & General Group Plc increased its stake in Syntel by 20.2% in the second quarter. Legal & General Group Plc now owns 8,321 shares of the company’s stock valued at $371,000 after buying an additional 1,400 shares in the last quarter. Finally, Fiera Capital Corp purchased a new stake in Syntel during the second quarter valued at about $3,385,000. 34.06% of the stock is owned by institutional investors and hedge funds.
Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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