Q4 2016 EPS Estimates for Syntel Inc. Cut by SunTrust Banks (SYNT)
Syntel Inc. (NASDAQ:SYNT) – Stock analysts at SunTrust Banks reduced their Q4 2016 earnings estimates for shares of Syntel in a research note issued on Monday. SunTrust Banks analyst F. Atkins now expects that the brokerage will earn $0.62 per share for the quarter, down from their prior estimate of $0.68. SunTrust Banks also issued estimates for Syntel’s Q1 2017 earnings at $0.57 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.72 EPS, FY2017 earnings at $2.61 EPS and FY2018 earnings at $2.81 EPS.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The business had revenue of $246 million for the quarter, compared to the consensus estimate of $249.12 million. Syntel had a net margin of 26.49% and a return on equity of 22.35%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share.
Several other equities analysts have also recently issued reports on SYNT. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Syntel in a research note on Monday, September 12th. Cantor Fitzgerald set a $43.00 price objective on shares of Syntel and gave the company a “hold” rating in a research note on Thursday, July 21st. Maxim Group dropped their price objective on shares of Syntel from $48.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, July 21st. JPMorgan Chase & Co. reissued a “hold” rating and issued a $47.00 price objective on shares of Syntel in a research note on Tuesday, July 19th. Finally, Zacks Investment Research raised shares of Syntel from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.00.
Syntel (NASDAQ:SYNT) traded up 0.08% during trading on Wednesday, hitting $26.08. 1,422,272 shares of the stock traded hands. The company’s 50 day moving average price is $43.29 and its 200-day moving average price is $44.98. Syntel has a 52-week low of $25.15 and a 52-week high of $50.92. The stock has a market cap of $2.19 billion, a P/E ratio of 8.33 and a beta of 1.12.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Syntel by 8.1% in the second quarter. FMR LLC now owns 4,216,162 shares of the company’s stock valued at $190,823,000 after buying an additional 315,992 shares in the last quarter. Vanguard Group Inc. raised its stake in Syntel by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,446,386 shares of the company’s stock valued at $110,723,000 after buying an additional 61,905 shares in the last quarter. Schroder Investment Management Group raised its stake in Syntel by 32.1% in the second quarter. Schroder Investment Management Group now owns 1,313,676 shares of the company’s stock valued at $59,457,000 after buying an additional 319,574 shares in the last quarter. FIL Ltd raised its stake in Syntel by 73.7% in the second quarter. FIL Ltd now owns 1,063,407 shares of the company’s stock valued at $48,129,000 after buying an additional 451,056 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Syntel by 2.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,045,941 shares of the company’s stock valued at $47,339,000 after buying an additional 28,246 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
In related news, VP Avinash Salelkar sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $43.55, for a total value of $217,750.00. Following the sale, the vice president now directly owns 10,021 shares in the company, valued at approximately $436,414.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anil Jain sold 1,250 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $45.60, for a total transaction of $57,000.00. Following the completion of the sale, the insider now owns 13,940 shares in the company, valued at $635,664. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a special dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were given a $15.00 dividend. The ex-dividend date was Tuesday, October 4th. This is a positive change from Syntel’s previous special dividend of $2.25.
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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