BidaskClub Downgrades Syntel (SYNT) to Hold
Syntel (NASDAQ:SYNT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other brokerages have also recently commented on SYNT. ValuEngine cut Syntel from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research cut Syntel from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Cowen reissued a “hold” rating and set a $18.00 target price on shares of Syntel in a report on Thursday, October 12th. J P Morgan Chase & Co cut Syntel from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Finally, TheStreet raised Syntel from a “d+” rating to a “c” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.10.
Shares of Syntel (SYNT) traded up $0.31 during trading on Friday, hitting $25.57. The company’s stock had a trading volume of 566,513 shares, compared to its average volume of 341,293. Syntel has a fifty-two week low of $15.82 and a fifty-two week high of $25.90. The firm has a market capitalization of $2,118.58, a PE ratio of 12.91, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69.
In other news, insider Daniel M. Moore sold 1,080 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total value of $26,125.20. Following the completion of the sale, the insider now directly owns 22,963 shares in the company, valued at $555,474.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 4,769 shares of company stock valued at $119,266 over the last 90 days. Company insiders own 61.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of SYNT. Group One Trading L.P. grew its position in shares of Syntel by 52.2% in the third quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock valued at $143,000 after purchasing an additional 2,498 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Syntel in the second quarter valued at approximately $181,000. Legal & General Group Plc grew its position in shares of 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 valued at $202,000 after purchasing an additional 881 shares in the last quarter. PEAK6 Investments L.P. purchased a new stake in shares of Syntel in the third quarter valued at approximately $223,000. Finally, Voya Investment Management LLC grew its position in shares of 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 valued at $272,000 after purchasing an additional 2,054 shares in the last quarter. Institutional investors and hedge funds own 36.61% of the company’s stock.
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.
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