Syntel (SYNT) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Syntel (NASDAQ:SYNT) from a hold rating to a buy rating in a research note released on Thursday, November 9th.

SYNT has been the subject of several other research reports. William Blair upgraded Syntel from an underperform rating to an outperform rating in a report on Tuesday, October 17th. TheStreet upgraded Syntel from a d+ rating to a c rating in a report on Tuesday, October 17th. Maxim Group restated a hold rating on shares of Syntel in a report on Thursday, July 20th. Loop Capital reiterated a buy rating and set a $28.00 price target on shares of Syntel in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Syntel from a hold rating to a buy rating and set a $22.00 target price for the company in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $23.10.

Shares of Syntel (SYNT) traded up $0.35 during midday trading on Thursday, hitting $25.59. The stock had a trading volume of 220,318 shares, compared to its average volume of 524,000. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69. The stock has a market capitalization of $2,086.26, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.09. Syntel has a 52 week low of $15.82 and a 52 week high of $25.80.

Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The company had revenue of $231.34 million for the quarter. During the same period last year, the business earned $0.63 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. analysts anticipate that Syntel will post 1.87 EPS for the current year.

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 transaction of $26,125.20. Following the completion of the sale, the insider now directly owns 22,963 shares of the company’s stock, valued at approximately $555,474.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,971 shares of company stock valued at $92,273. Insiders own 61.10% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Group One Trading L.P. raised its stake in Syntel by 52.2% during the third quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock worth $143,000 after acquiring an additional 2,498 shares during the period. UBS Asset Management Americas Inc. bought a new stake in Syntel during the second quarter worth approximately $181,000. Legal & General Group Plc boosted its stake 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 worth $202,000 after purchasing an additional 881 shares during the period. Eqis Capital Management Inc. boosted its stake in Syntel by 4.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock worth $217,000 after purchasing an additional 515 shares during the period. Finally, PEAK6 Investments L.P. acquired a new position in Syntel in the 3rd quarter worth approximately $223,000. 36.54% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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