William Blair upgraded shares of Syntel, Inc. (NASDAQ:SYNT) from an underperform rating to an outperform rating in a research report sent to investors on Tuesday, October 17th, Marketbeat.com reports. William Blair also issued estimates for Syntel’s Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.85 EPS, Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.47 EPS and FY2018 earnings at $1.77 EPS.
SYNT has been the subject of several other research reports. Zacks Investment Research cut shares of Syntel from a buy rating to a hold rating in a research note on Thursday, August 24th. Cowen and Company reiterated a hold rating and issued a $18.00 target price on shares of Syntel in a research note on Tuesday, August 22nd. ValuEngine raised shares of Syntel from a hold rating to a buy rating in a research report on Thursday, July 13th. BidaskClub raised shares of Syntel from a strong sell rating to a sell rating in a research report on Wednesday, June 28th. Finally, SunTrust Banks, Inc. reissued a hold rating and issued a $20.00 price target on shares of Syntel in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $23.10.
Syntel (NASDAQ SYNT) traded down $0.30 during midday trading on Tuesday, hitting $23.31. 93,931 shares of the company traded hands, compared to its average volume of 822,911. 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 has a twelve month low of $15.82 and a twelve month high of $25.80. The company has a market capitalization of $1,956.18, a PE ratio of 11.92, a PEG ratio of 1.26 and a beta of 1.09.
Syntel (NASDAQ:SYNT) last released its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The business had revenue of $231.34 million during the quarter. During the same quarter in the previous year, the business posted $0.63 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. sell-side analysts predict that Syntel will post 1.87 earnings per share for the current year.
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Syntel announced that its board has authorized a stock buyback program on Thursday, July 20th that permits the company to buyback $60.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of SYNT. Sather Financial Group Inc acquired a new stake in shares of Syntel during the second quarter worth approximately $8,400,000. Dimensional Fund Advisors LP increased its holdings in shares of Syntel by 75.4% during the second quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock worth $15,661,000 after buying an additional 397,034 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Syntel by 5.0% during the second quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock worth $46,198,000 after buying an additional 130,471 shares in the last quarter. Bridge City Capital LLC acquired a new stake in shares of Syntel during the second quarter worth approximately $1,771,000. Finally, Teachers Advisors LLC increased its holdings in shares of Syntel by 128.4% during the second quarter. Teachers Advisors LLC now owns 144,065 shares of the information technology services provider’s stock worth $2,443,000 after buying an additional 80,977 shares in the last quarter. 35.15% of the stock is owned by institutional investors.
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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