Robert W. Baird Boosts Syntel Inc. (SYNT) Price Target to $52.00
A number of other research analysts have also weighed in on SYNT. Zacks Investment Research raised Syntel from a sell rating to a hold rating in a report on Tuesday, June 28th. Maxim Group dropped their price objective on Syntel from $48.00 to $45.00 and set a hold rating on the stock in a report on Thursday, July 21st. Cantor Fitzgerald set a $43.00 price objective on Syntel and gave the stock a hold rating in a report on Wednesday, September 7th. Needham & Company LLC reaffirmed a buy rating and set a $48.00 price objective on shares of Syntel in a report on Monday, September 12th. Finally, JPMorgan Chase & Co. reaffirmed a hold rating and set a $47.00 price objective on shares of Syntel in a report on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Syntel has an average rating of Hold and an average price target 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 cap of $3.54 billion, a price-to-earnings ratio of 13.45 and a beta of 1.07. The stock’s 50 day moving average price is $45.19 and its 200 day moving average price is $45.48.
Syntel (NASDAQ:SYNT) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Syntel had a return on equity of 22.35% and a net margin of 26.49%. The business earned $246 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts forecast that Syntel will post $0.98 EPS for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be issued a $15.00 dividend. This is a positive change from Syntel’s previous special dividend of $2.25. The ex-dividend date of this dividend is Tuesday, October 4th.
In related news, CEO Nitin Rakesh sold 1,750 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $42.01, for a total transaction of $73,517.50. Following the sale, the chief executive officer now owns 49,600 shares of the company’s stock, valued at $2,083,696. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Sanjay Garg sold 1,375 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $42.01, for a total value of $57,763.75. Following the sale, the vice president now directly owns 2,750 shares in the company, valued at approximately $115,527.50. The disclosure for this sale can be found here. 61.80% of the stock is owned by company insiders.
Several hedge funds 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 worth $2,577,000 after buying an additional 9,882 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Syntel during the first quarter worth 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 worth $920,000 after buying an additional 2,198 shares during the last quarter. 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 worth $38,251,000 after buying an additional 11,038 shares during the last quarter. 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 worth $1,310,000 after buying an additional 4,256 shares during the last quarter. 34.10% of the stock is currently owned by institutional investors and hedge funds.
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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