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.
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.
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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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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