Syntel, Inc. (SYNT) Given Consensus Rating of “Hold” by Brokerages
Syntel, Inc. (NASDAQ:SYNT) has been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.10.
SYNT has been the topic of a number of research reports. Zacks Investment Research upgraded Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Cantor Fitzgerald reiterated a “hold” rating and issued a $16.00 target price on shares of Syntel in a research note on Thursday, July 20th. Maxim Group reiterated a “hold” rating on shares of Syntel in a research note on Thursday, July 20th. Cowen and Company restated a “hold” rating and set a $18.00 price objective on shares of Syntel in a research note on Tuesday, August 22nd. Finally, ValuEngine lowered Syntel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Syntel by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock worth $46,198,000 after acquiring an additional 130,471 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Syntel by 0.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,611,439 shares of the information technology services provider’s stock valued at $31,665,000 after purchasing an additional 7,695 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Syntel by 19.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,103,778 shares of the information technology services provider’s stock valued at $21,689,000 after purchasing an additional 180,347 shares during the period. Freestone Capital Holdings LLC lifted its stake in shares of Syntel by 6.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 735,111 shares of the information technology services provider’s stock valued at $12,467,000 after purchasing an additional 46,174 shares during the period. Finally, State Street Corp lifted its stake in shares of Syntel by 6.6% in the 2nd quarter. State Street Corp now owns 660,670 shares of the information technology services provider’s stock valued at $11,207,000 after purchasing an additional 40,952 shares during the period. Institutional investors own 35.08% of the company’s stock.
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Syntel (NASDAQ:SYNT) traded down $0.36 during trading on Monday, hitting $23.39. The stock had a trading volume of 373,000 shares, compared to its average volume of 523,983. Syntel has a twelve month low of $15.82 and a twelve month high of $25.80. The stock has a market capitalization of $1,937.95, a PE ratio of 11.81, a PEG ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07.
Syntel (NASDAQ:SYNT) last posted its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The firm had revenue of $231.34 million during the quarter. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. sell-side analysts expect that Syntel will post 1.87 EPS for the current fiscal year.
Syntel declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 20th that permits the company to buyback $60.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Syntel Company Profile
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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