Syntel, Inc. (SYNT) Lifted to “Buy” at ValuEngine
Syntel, Inc. (NASDAQ:SYNT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
A number of other research firms have also weighed in on SYNT. William Blair upgraded Syntel from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 17th. Needham & Company LLC increased their price target on Syntel from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Loop Capital reaffirmed a “buy” rating and set a $28.00 price target on shares of Syntel in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Zacks Investment Research raised Syntel from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Friday, October 20th. Finally, TheStreet raised Syntel from a “d+” rating to a “c” rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.10.
Syntel (NASDAQ SYNT) opened at $23.71 on Thursday. Syntel has a fifty-two week low of $15.82 and a fifty-two week high of $25.80. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69. The firm has a market capitalization of $1,940.00, a P/E ratio of 11.89, a PEG ratio of 1.26 and a beta of 1.08.
Syntel (NASDAQ:SYNT) last posted its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The company had revenue of $231.34 million for the quarter. During the same quarter in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. sell-side analysts forecast that Syntel will post 1.87 EPS for the current fiscal year.
Syntel announced that its board has initiated a share buyback program on Thursday, July 20th that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. purchased a new stake in Syntel in the second quarter worth $181,000. Legal & General Group Plc increased its position in Syntel by 8.0% in the second quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after buying an additional 881 shares during the last quarter. Eqis Capital Management Inc. increased its position in Syntel by 4.2% in the second quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock worth $217,000 after buying an additional 515 shares during the last quarter. Voya Investment Management LLC increased its position in Syntel by 14.7% in the second quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock worth $272,000 after buying an additional 2,054 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Syntel in the second quarter worth $309,000. 35.15% 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 (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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