Brokerages Set Syntel, Inc. (SYNT) Price Target at $23.10

Shares of Syntel, Inc. (NASDAQ:SYNT) have been given a consensus rating of “Hold” by the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $23.10.

Several brokerages recently issued reports on SYNT. Zacks Investment Research raised Syntel from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, August 18th. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. TheStreet upgraded Syntel from a “d+” rating to a “c” rating in a research report on Tuesday, October 17th. SunTrust Banks, Inc. restated a “hold” rating and issued a $20.00 target price on shares of Syntel in a research report on Tuesday, October 17th. Finally, Loop Capital restated a “buy” rating and issued a $28.00 target price on shares of Syntel in a research report on Wednesday, October 18th. They noted that the move was a valuation call.

Shares of Syntel (SYNT) traded up $0.26 during midday trading on Monday, hitting $25.12. The company had a trading volume of 481,567 shares, compared to its average volume of 736,812. The company has a market cap of $2,080.00, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.08. Syntel has a 1-year low of $15.82 and a 1-year high of $25.80. 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 quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.17. The business had revenue of $231.34 million for the quarter. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. equities research analysts forecast that Syntel will post 1.87 earnings per share for the current year.

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In other news, insider Daniel M. Moore sold 1,080 shares of Syntel stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total transaction of $26,125.20. Following the transaction, the insider now directly owns 22,963 shares in the company, valued at approximately $555,474.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 2,780 shares of company stock worth $61,689. 61.10% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Group One Trading L.P. increased its position in shares of Syntel by 52.2% during the 3rd 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 during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Syntel during the 3rd quarter valued at $283,000. Highbridge Capital Management LLC increased its position in shares of Syntel by 72.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 167,848 shares of the information technology services provider’s stock valued at $3,298,000 after purchasing an additional 70,777 shares during the period. PEAK6 Investments L.P. acquired a new position in shares of Syntel during the 3rd quarter valued at $223,000. Finally, Sather Financial Group Inc increased its position in shares of Syntel by 8.8% during the 3rd quarter. Sather Financial Group Inc now owns 538,923 shares of the information technology services provider’s stock valued at $10,590,000 after purchasing an additional 43,650 shares during the period. Institutional investors own 35.08% of the company’s stock.

About Syntel

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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