Syntel Inc. (SYNT) Rating Lowered to Hold at TheStreet
Syntel Inc. (NASDAQ:SYNT) was downgraded by stock analysts at TheStreet from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other research analysts have also weighed in on the stock. Maxim Group cut their target price on shares of Syntel from $45.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday. Barrington Research lowered shares of Syntel from an “outperform” rating to a “market perform” rating in a report on Thursday, September 22nd. Cantor Fitzgerald set a $43.00 target price on shares of Syntel and gave the company a “hold” rating in a report on Tuesday, September 13th. Zacks Investment Research lowered shares of Syntel from a “hold” rating to a “sell” rating in a report on Saturday, July 23rd. Finally, Robert W. Baird raised their target price on shares of Syntel from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $45.00.
Shares of Syntel (NASDAQ:SYNT) opened at 26.96 on Wednesday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 8.61 and a beta of 1.12. Syntel has a one year low of $25.15 and a one year high of $50.92. The stock has a 50 day moving average of $42.21 and a 200-day moving average of $44.72.
Syntel (NASDAQ:SYNT) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 business earned $246 million during the quarter, compared to analyst estimates of $249.12 million. During the same period last year, the firm posted $0.72 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that Syntel will post ($0.67) earnings per share for the current year.
The company also recently disclosed a special dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd were 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 was Tuesday, October 4th.
In other news, VP Sanjay Garg sold 1,375 shares of Syntel stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $42.01, for a total transaction of $57,763.75. Following the completion of the sale, the vice president now directly owns 2,750 shares in the company, valued at $115,527.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Raja Ray sold 718 shares of Syntel stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $42.69, for a total value of $30,651.42. Following the sale, the insider now owns 13,151 shares of the company’s stock, valued at $561,416.19. The disclosure for this sale can be found here. Insiders own 61.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SYNT. FMR LLC increased 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 during the period. Vanguard Group Inc. increased 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 during the period. Schroder Investment Management Group increased 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 during the period. FIL Ltd increased 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 during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased 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 during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
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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