Syntel (NASDAQ:SYNT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other analysts have also recently weighed in on SYNT. Zacks Investment Research raised shares of Syntel from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, May 1st. Barrington Research restated a “hold” rating on shares of Syntel in a report on Thursday, May 24th. TheStreet upgraded shares of Syntel from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd. Wellington Shields lowered shares of Syntel from a “gradually accumulate” rating to a “hold” rating in a report on Wednesday, June 6th. Finally, Wells Fargo & Co lowered shares of Syntel from a “market perform” rating to an “underperform” rating in a report on Wednesday, June 20th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.00.

NASDAQ SYNT opened at $40.68 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 3.70. Syntel has a fifty-two week low of $17.83 and a fifty-two week high of $40.89. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.06 and a beta of 0.80.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 26th. The information technology services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. Syntel had a net margin of 18.42% and a return on equity of 3,237.31%. The company had revenue of $249.70 million for the quarter. During the same period in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. sell-side analysts predict that Syntel will post 1.97 earnings per share for the current year.

In other news, insider Murlidhar Reddy sold 4,000 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $33.18, for a total transaction of $132,720.00. Following the transaction, the insider now owns 36,889 shares in the company, valued at $1,223,977.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 58.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in shares of Syntel by 265.2% during the first quarter. Meeder Asset Management Inc. now owns 5,807 shares of the information technology services provider’s stock valued at $148,000 after purchasing an additional 4,217 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Syntel during the first quarter valued at about $174,000. Teacher Retirement System of Texas acquired a new stake in shares of Syntel in the 2nd quarter worth about $243,000. Trexquant Investment LP acquired a new stake in shares of Syntel in the 1st quarter worth about $229,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Syntel in the 1st quarter worth about $248,000. Hedge funds and other institutional investors own 40.78% of the company’s stock.

About Syntel

Syntel, Inc engages in the provision of digital transformation, information technology and knowledge process outsourcing services. It operates through the following segments: Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics and Telecom. The Banking and Financial Services segment assists clients in the areas, such as cards and payments, retail banking, wholesale banking, consumer lending, risk management, investment banking, reconciliations, fraud analysis, mobile banking, and compliance and securities services.

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Analyst Recommendations for Syntel (NASDAQ:SYNT)

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