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.
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.
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