Syntel Inc. (SYNT) Downgraded by William Blair
Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald set a $43.00 price target on shares of Syntel and gave the stock a hold rating in a research report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Syntel from a sell rating to a hold rating in a research report on Tuesday, June 28th. Maxim Group cut shares of Syntel from a buy rating to a hold rating and set a $48.00 price objective on the stock. in a research report on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a hold rating and set a $47.00 price objective on shares of Syntel in a research report on Tuesday, July 19th. Finally, Robert W. Baird boosted their price objective on shares of Syntel from $46.00 to $52.00 and gave the company a neutral rating in a research report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $47.83.
Syntel (NASDAQ:SYNT) opened at 42.98 on Thursday. The company has a 50 day moving average of $44.78 and a 200 day moving average of $45.35. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 13.73 and a beta of 1.07. Syntel has a 52 week low of $40.68 and a 52 week high of $50.92.
Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Syntel had a net margin of 26.49% and a return on equity of 22.35%. The company had revenue of $246 million for the quarter, compared to analysts’ expectations of $249.12 million. During the same quarter in the previous year, the business posted $0.72 earnings per share. Syntel’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Syntel will post ($0.67) EPS for the current fiscal year.
The business 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 $15.00 dividend. The ex-dividend date is Tuesday, October 4th. This is a boost from Syntel’s previous special dividend of $2.25.
In other news, CEO Nitin Rakesh sold 1,750 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $42.01, for a total value of $73,517.50. Following the transaction, the chief executive officer now directly owns 49,600 shares in the company, valued at $2,083,696. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sanjay Garg sold 1,375 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $42.01, for a total transaction of $57,763.75. Following the completion of the transaction, the vice president now owns 2,750 shares in the company, valued at $115,527.50. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Syntel during the fourth quarter worth approximately $17,503,000. Independent Portfolio Consultants Inc. boosted its position in Syntel by 5.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 7,905 shares of the company’s stock worth $395,000 after buying an additional 380 shares during the last quarter. OLD National Bancorp IN boosted its position in Syntel by 5.8% in the first quarter. OLD National Bancorp IN now owns 9,809 shares of the company’s stock worth $490,000 after buying an additional 541 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in Syntel during the first quarter worth approximately $496,000. Finally, Apex Capital Management boosted its position in Syntel by 19.2% in the first quarter. Apex Capital Management now owns 239,457 shares of the company’s stock worth $11,956,000 after buying an additional 38,557 shares during the last quarter. Hedge funds and other institutional investors own 34.10% of the company’s stock.
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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