Syntel Inc. (SYNT) Receives $37.00 Consensus Price Target from Brokerages
Shares of Syntel Inc. (NASDAQ:SYNT) have earned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.00.
SYNT has been the topic of several analyst reports. Cantor Fitzgerald set a $43.00 target price on Syntel and gave the stock a “hold” rating in a report on Tuesday, September 13th. Barrington Research lowered Syntel from an “outperform” rating to a “market perform” rating in a report on Thursday, September 22nd. Maxim Group dropped their target price on Syntel from $45.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, October 4th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Syntel in a report on Monday, September 12th. Finally, Robert W. Baird upped their target price on Syntel from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, September 13th.
Shares of Syntel (NASDAQ:SYNT) opened at 20.17 on Wednesday. Syntel has a one year low of $18.00 and a one year high of $50.92. The stock’s 50 day moving average price is $21.63 and its 200 day moving average price is $38.52. The firm’s market cap is $1.70 billion.
Syntel (NASDAQ:SYNT) last released its earnings results on Thursday, October 20th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.59) by $3.22. Syntel had a positive return on equity of 28.09% and a negative net margin of 3.17%. The business had revenue of $241.30 million for the quarter, compared to analyst estimates of $249.81 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. Syntel’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts anticipate that Syntel will post ($0.71) earnings per share for the current fiscal year.
In related news, insider Anil Jain sold 1,250 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $46.16, for a total transaction of $57,700.00. Following the sale, the insider now owns 12,690 shares of the company’s stock, valued at $585,770.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Raja Ray sold 718 shares of the stock in a transaction that occurred 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 directly owns 13,151 shares in the company, valued at approximately $561,416.19. The disclosure for this sale can be found here. 61.80% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Pekin Singer Strauss Asset Management IL increased its stake in shares of Syntel by 87.2% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 241,609 shares of the company’s stock worth $10,935,000 after buying an additional 112,572 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Syntel during the second quarter worth about $1,091,000. JPMorgan Chase & Co. increased its stake in shares of Syntel by 13.5% in the first quarter. JPMorgan Chase & Co. now owns 18,423 shares of the company’s stock worth $920,000 after buying an additional 2,198 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Syntel by 19.4% in the first quarter. BlackRock Group LTD now owns 26,244 shares of the company’s stock worth $1,310,000 after buying an additional 4,256 shares in the last quarter. Finally, Jensen Investment Management Inc. increased its stake in shares of Syntel by 9.6% in the second quarter. Jensen Investment Management Inc. now owns 9,660 shares of the company’s stock worth $437,000 after buying an additional 850 shares in the last quarter. 36.30% of the stock is currently owned by institutional investors and hedge funds.
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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