Syntel (SYNT) Rating Lowered to Underperform at Wells Fargo & Co
Wells Fargo & Co lowered shares of Syntel (NASDAQ:SYNT) from a market perform rating to an underperform rating in a research report sent to investors on Friday morning, Marketbeat reports. Wells Fargo & Co currently has $21.00 price objective on the information technology services provider’s stock, down from their previous price objective of $24.16.
A number of other equities analysts also recently weighed in on the stock. Robert W. Baird reaffirmed a hold rating and set a $24.00 target price on shares of Syntel in a research note on Thursday, December 21st. Needham & Company LLC downgraded shares of Syntel from a buy rating to a hold rating in a research note on Thursday, December 21st. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Syntel from a buy rating to a hold rating in a research report on Wednesday, December 20th. BidaskClub downgraded shares of Syntel from a buy rating to a hold rating in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. downgraded shares of Syntel from a neutral rating to an underweight rating in a research report on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and an average price target of $23.31.
Syntel (NASDAQ:SYNT) opened at $22.99 on Friday. Syntel has a one year low of $15.82 and a one year high of $26.33. The firm has a market cap of $1,904.81, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of -5.69.
Syntel (NASDAQ:SYNT) last announced its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The business had revenue of $231.34 million during the quarter. During the same period in the prior year, the business posted $0.63 EPS. Syntel’s revenue for the quarter was down 4.1% on a year-over-year basis. equities research analysts expect that Syntel will post 1.87 EPS for the current fiscal year.
In related news, insider Daniel M. Moore sold 1,080 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total transaction of $26,125.20. Following the completion of the sale, the insider now owns 22,963 shares of the company’s stock, valued at $555,474.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,769 shares of company stock valued at $119,266 in the last three months. 61.10% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its holdings in Syntel by 67.3% in the third quarter. GSA Capital Partners LLP now owns 137,209 shares of the information technology services provider’s stock worth $2,696,000 after purchasing an additional 55,205 shares during the last quarter. Group One Trading L.P. boosted its holdings in 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 worth $143,000 after purchasing an additional 2,498 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Syntel in the third quarter worth approximately $283,000. Highbridge Capital Management LLC boosted its holdings in Syntel by 72.9% in the third quarter. Highbridge Capital Management LLC now owns 167,848 shares of the information technology services provider’s stock worth $3,298,000 after purchasing an additional 70,777 shares during the last quarter. Finally, PEAK6 Investments L.P. purchased a new stake in Syntel in the third quarter worth approximately $223,000. 36.61% of the stock is owned by institutional investors.
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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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