Syntel, Inc. (NASDAQ:SYNT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other research firms have also recently commented on SYNT. Zacks Investment Research cut shares of Syntel from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Cantor Fitzgerald reiterated a “hold” rating and issued a $16.00 price objective on shares of Syntel in a report on Thursday, July 20th. BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Cowen and Company reiterated a “hold” rating and issued a $18.00 price objective on shares of Syntel in a report on Tuesday, August 22nd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $20.00 price objective on shares of Syntel in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.73.

Shares of Syntel (NASDAQ:SYNT) opened at 19.59 on Friday. The firm’s market cap is $1.64 billion. The firm’s 50-day moving average price is $18.60 and its 200-day moving average price is $17.78. Syntel has a one year low of $15.82 and a one year high of $27.03.

Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The company had revenue of $226.81 million for the quarter. During the same period last year, the firm earned $0.70 earnings per share. Syntel’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts expect that Syntel will post $1.72 earnings per share for the current fiscal year.

Syntel declared that its Board of Directors has approved a share buyback plan on Thursday, July 20th that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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A number of large investors have recently bought and sold shares of SYNT. Swiss National Bank raised its position in Syntel by 5.5% in the first quarter. Swiss National Bank now owns 55,300 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 2,900 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Syntel by 26.9% in the first quarter. Parametric Portfolio Associates LLC now owns 27,503 shares of the information technology services provider’s stock worth $463,000 after purchasing an additional 5,832 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Syntel by 20.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,527 shares of the information technology services provider’s stock worth $800,000 after purchasing an additional 8,157 shares in the last quarter. SG Americas Securities LLC acquired a new position in Syntel in the first quarter worth about $700,000. Finally, American International Group Inc. raised its position in Syntel by 7.1% in the first quarter. American International Group Inc. now owns 19,894 shares of the information technology services provider’s stock worth $335,000 after purchasing an additional 1,323 shares in the last quarter. 34.71% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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