Cantor Fitzgerald Analysts Give Syntel Inc. (SYNT) a $43.00 Price Target
A number of other analysts have also recently commented on SYNT. Zacks Investment Research raised Syntel from a sell rating to a hold rating in a research report on Tuesday, June 28th. Maxim Group dropped their price target on Syntel from $48.00 to $45.00 and set a hold rating on the stock in a research report on Thursday, July 21st. Robert W. Baird reissued a hold rating on shares of Syntel in a research report on Monday, May 16th. Needham & Company LLC reaffirmed a buy rating and issued a $48.00 price objective on shares of Syntel in a research report on Monday, September 12th. Finally, JPMorgan Chase & Co. reaffirmed a hold rating and issued a $47.00 price objective on shares of Syntel in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $47.83.
Syntel (NASDAQ:SYNT) opened at 42.09 on Tuesday. Syntel has a 12 month low of $40.68 and a 12 month high of $50.92. The stock has a market capitalization of $3.54 billion, a PE ratio of 13.45 and a beta of 1.07. The stock has a 50 day moving average price of $45.19 and a 200 day moving average price of $45.48.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Syntel had a return on equity of 22.35% and a net margin of 26.49%. The firm had revenue of $246 million for the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Syntel will post $0.98 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be issued a dividend of $15.00 per share. This is a boost from Syntel’s previous special dividend of $2.25. The ex-dividend date is Tuesday, October 4th.
In other news, insider Raja Ray sold 718 shares of the company’s 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 completion of the sale, the insider now directly owns 13,151 shares in the company, valued at approximately $561,416.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nitin Rakesh sold 1,750 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $42.01, for a total value of $73,517.50. Following the completion of the sale, the chief executive officer now owns 49,600 shares of the company’s stock, valued at $2,083,696. The disclosure for this sale can be found here. Insiders own 61.80% of the company’s stock.
Several large investors have recently bought and sold shares of SYNT. Zebra Capital Management LLC raised its stake in Syntel by 23.7% in the first quarter. Zebra Capital Management LLC now owns 51,606 shares of the company’s stock valued at $2,577,000 after buying an additional 9,882 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Syntel during the first quarter valued at approximately $100,000. JPMorgan Chase & Co. raised its stake in Syntel by 13.5% in the first quarter. JPMorgan Chase & Co. now owns 18,423 shares of the company’s stock valued at $920,000 after buying an additional 2,198 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Syntel by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 766,093 shares of the company’s stock valued at $38,251,000 after buying an additional 11,038 shares during the period. Finally, BlackRock Group LTD raised its stake in Syntel by 19.4% in the first quarter. BlackRock Group LTD now owns 26,244 shares of the company’s stock valued at $1,310,000 after buying an additional 4,256 shares during the period. Hedge funds and other institutional investors own 34.10% 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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