Syntel, Inc. (SYNT) Expected to Announce Quarterly Sales of $214.93 Million

Wall Street analysts predict that Syntel, Inc. (NASDAQ:SYNT) will announce sales of $214.93 million for the current quarter, according to Zacks. Six analysts have made estimates for Syntel’s earnings, with estimates ranging from $211.90 million to $219.83 million. Syntel reported sales of $237.89 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Syntel will report full year sales of $214.93 million for the current fiscal year, with estimates ranging from $896.00 million to $903.85 million. For the next year, analysts forecast that the company will report sales of $893.44 million per share, with estimates ranging from $880.00 million to $922.84 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Syntel.

Several research analysts have recently issued reports on SYNT shares. Zacks Investment Research cut shares of Syntel from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Robert W. Baird restated a “hold” rating and issued a $24.00 target price on shares of Syntel in a report on Thursday, December 21st. ValuEngine upgraded shares of Syntel from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Cowen restated a “hold” rating and issued a $18.00 target price on shares of Syntel in a report on Thursday, October 12th. Finally, SunTrust Banks restated a “hold” rating and issued a $20.00 target price on shares of Syntel in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $23.31.

In related news, insider Daniel M. Moore sold 1,080 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total value of $26,125.20. Following the completion of the sale, the insider now owns 22,963 shares in the company, valued at approximately $555,474.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 3,944 shares of company stock valued at $99,584. 61.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in SYNT. Group One Trading L.P. raised its position in Syntel by 52.2% in 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 last quarter. SG Americas Securities LLC purchased a new stake in Syntel in the 4th quarter valued at $144,000. UBS Asset Management Americas Inc. purchased a new stake in Syntel in the 2nd quarter valued at $181,000. Legal & General Group Plc raised its position in Syntel by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after purchasing an additional 881 shares during the last quarter. Finally, PEAK6 Investments L.P. purchased a new stake in Syntel in the 3rd quarter valued at $223,000. Hedge funds and other institutional investors own 36.60% of the company’s stock.

Shares of Syntel (NASDAQ SYNT) traded up $0.07 during trading on Wednesday, hitting $23.61. 462,696 shares of the stock traded hands, compared to its average volume of 365,103. Syntel has a fifty-two week low of $15.82 and a fifty-two week high of $26.33. The company has a debt-to-equity ratio of -5.69, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $1,950.38, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

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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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