Syntel, Inc. (SYNT) Receives $21.50 Average Price Target from Analysts

Syntel, Inc. (NASDAQ:SYNT) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.50.

A number of equities analysts have issued reports on the stock. Wells Fargo cut shares of Syntel from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $24.16 to $21.00 in a research note on Friday, December 29th. ValuEngine cut shares of Syntel from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 1st. William Blair reaffirmed a “market perform” rating on shares of Syntel in a research note on Thursday, February 15th. BidaskClub raised shares of Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 21st. Finally, Zacks Investment Research cut shares of Syntel from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st.

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Shares of Syntel stock opened at $25.28 on Thursday. The company has a debt-to-equity ratio of -25.89, a current ratio of 2.17 and a quick ratio of 2.17. The company has a market capitalization of $2,108.97, a P/E ratio of 12.51, a P/E/G ratio of 1.82 and a beta of 0.74. Syntel has a fifty-two week low of $15.82 and a fifty-two week high of $27.72.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.23. The business had revenue of $239.81 million during the quarter. Syntel had a net margin of 18.00% and a negative return on equity of 218.07%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. equities analysts predict that Syntel will post 1.86 earnings per share for the current fiscal year.

In other news, insider Daniel M. Moore sold 2,000 shares of Syntel stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $26.69, for a total transaction of $53,380.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Prashant Ranade sold 50,000 shares of Syntel stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $27.18, for a total transaction of $1,359,000.00. Following the transaction, the chairman now directly owns 257,933 shares in the company, valued at $7,010,618.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,800 shares of company stock worth $1,460,368. Insiders own 61.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SYNT. Bank of New York Mellon Corp boosted its position in shares of Syntel by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 144,928 shares of the information technology services provider’s stock worth $2,847,000 after purchasing an additional 14,148 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Syntel by 9.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 204,047 shares of the information technology services provider’s stock worth $4,010,000 after purchasing an additional 18,368 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Syntel by 19.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,103,778 shares of the information technology services provider’s stock worth $21,689,000 after purchasing an additional 180,347 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Syntel during the third quarter worth $692,000. Finally, Highbridge Capital Management LLC boosted its position in shares of Syntel by 72.9% during 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 in the last quarter. 40.43% of the stock is currently 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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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