Syntel, Inc. (NASDAQ:SYNT) Raised to “C” at TheStreet

TheStreet upgraded shares of Syntel, Inc. (NASDAQ:SYNT) from a d+ rating to a c rating in a report issued on Tuesday, October 17th.

A number of other brokerages have also issued reports on SYNT. ValuEngine lowered Syntel from a buy rating to a hold rating in a research report on Friday, September 1st. Zacks Investment Research lowered Syntel from a buy rating to a hold rating in a research report on Thursday, August 24th. Cantor Fitzgerald reissued a hold rating and issued a $16.00 target price on shares of Syntel in a research report on Thursday, July 20th. Cowen and Company reissued a hold rating and issued a $18.00 target price on shares of Syntel in a research report on Thursday, October 12th. Finally, BidaskClub raised Syntel from a strong sell rating to a sell rating in a research report on Wednesday, June 28th. One equities research 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. The company has an average rating of Hold and a consensus target price of $23.10.

Syntel (NASDAQ:SYNT) traded down $0.30 during mid-day trading on Tuesday, hitting $23.31. 93,931 shares of the stock traded hands, compared to its average volume of 822,911. The stock has a market cap of $1,956.18, a price-to-earnings ratio of 11.92, a PEG ratio of 1.26 and a beta of 1.09. 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 1 year low of $15.82 and a 1 year high of $25.80.

Syntel (NASDAQ:SYNT) last released its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The firm had revenue of $231.34 million for the quarter. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. sell-side analysts forecast that Syntel will post 1.87 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was published by BBNS and is the sole property of of BBNS. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://baseballnewssource.com/markets/syntel-inc-synt-upgraded-to-c-at-thestreet/1721284.html.

Syntel announced that its Board of Directors has approved a share repurchase plan on Thursday, July 20th that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Large investors have recently made changes to their positions in the company. AXA purchased a new stake in shares of Syntel in the second quarter valued at about $1,046,000. Swiss National Bank raised its holdings in Syntel by 5.5% during the first quarter. Swiss National Bank now owns 55,300 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 2,900 shares in the last quarter. Prudential Financial Inc. purchased a new position in Syntel during the second quarter worth about $1,082,000. Freestone Capital Holdings LLC raised its holdings in Syntel by 6.7% during the second quarter. Freestone Capital Holdings LLC now owns 735,111 shares of the information technology services provider’s stock worth $12,467,000 after purchasing an additional 46,174 shares in the last quarter. Finally, Clark Estates Inc. NY raised its holdings in Syntel by 19.9% during the second quarter. Clark Estates Inc. NY now owns 181,000 shares of the information technology services provider’s stock worth $3,070,000 after purchasing an additional 30,000 shares in the last quarter. 35.15% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

Receive News & Ratings for Syntel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.