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.

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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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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