Syntel (SYNT) Hits New 52-Week High and Low at $28.51

Syntel, Inc. (NASDAQ:SYNT) reached a new 52-week high and low during mid-day trading on Monday . The company traded as low as $28.51 and last traded at $27.94, with a volume of 240037 shares trading hands. The stock had previously closed at $28.14.

A number of equities research analysts have recently issued reports on the company. SunTrust Banks reiterated a “hold” rating and issued a $29.00 target price on shares of Syntel in a research note on Friday. BidaskClub upgraded Syntel from a “strong sell” rating to a “sell” rating in a research note on Friday. Wells Fargo upgraded Syntel from an “underperform” rating to a “market perform” rating in a research note on Friday. Wellington Shields upgraded Syntel from a “hold” rating to an “accumulate” rating in a research note on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Syntel in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.13.

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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 cap of $2,334.64, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.99 and a beta of 0.74.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, April 19th. The information technology services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.11. Syntel had a negative return on equity of 304.22% and a net margin of 18.40%. The firm had revenue of $245.35 million during the quarter, compared to analyst estimates of $228.02 million. During the same quarter last year, the firm earned $0.46 EPS. Syntel’s quarterly revenue was up 8.6% on a year-over-year basis. research analysts forecast that Syntel, Inc. will post 1.89 earnings per share for the current year.

In other Syntel news, VP Rahul B. Aggarwal sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $26.66, for a total transaction of $47,988.00. Following the completion of the sale, the vice president now owns 10,430 shares in the company, valued at approximately $278,063.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel M. Moore sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $26.69, for a total value of $53,380.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,800 shares of company stock valued at $1,460,368. 61.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SYNT. Bank of New York Mellon Corp grew its stake in Syntel by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 144,928 shares of the information technology services provider’s stock valued at $2,847,000 after purchasing an additional 14,148 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Syntel by 9.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 204,047 shares of the information technology services provider’s stock valued at $4,010,000 after purchasing an additional 18,368 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Syntel by 19.5% during 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Syntel during the 3rd quarter valued at approximately $283,000. Finally, James Investment Research Inc. grew its stake in Syntel by 27.8% during the 4th quarter. James Investment Research Inc. now owns 115,935 shares of the information technology services provider’s stock valued at $2,665,000 after purchasing an additional 25,235 shares in the last quarter. Hedge funds and other institutional investors own 40.59% of the company’s stock.

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About Syntel

Syntel, Inc provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom segments. It provides end-to-end, integrated application, and infrastructure management services; develops software applications; and offers legacy modernization services, such as software analysis, language conversion, reverse engineering, database migration, code optimization, cloud onboarding and migration, ecosystem migration, testing, and management.

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