ValuEngine upgraded shares of Syntel, Inc. (NASDAQ:SYNT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.
Several other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Syntel from a hold rating to a buy rating and set a $27.00 target price on the stock in a research report on Friday, October 20th. Cowen and Company reiterated a hold rating and set a $20.00 price target on shares of Syntel in a report on Thursday, October 19th. TheStreet upgraded shares of Syntel from a d+ rating to a c rating in a report on Tuesday, October 17th. Needham & Company LLC upped their price target on shares of Syntel from $23.00 to $28.00 and gave the company a buy rating in a report on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Loop Capital reiterated a buy rating and set a $28.00 price target on shares of Syntel in a report on Wednesday, October 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $23.10.
Shares of Syntel (NASDAQ:SYNT) traded down $0.36 during midday trading on Thursday, hitting $23.39. 373,000 shares of the stock traded hands, compared to its average volume of 856,144. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $1,937.95, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.25 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 announced its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, beating the 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 quarter in the prior year, the company posted $0.63 earnings per share. equities analysts forecast that Syntel will post 1.87 EPS for the current fiscal year.
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Syntel declared that its Board of Directors has approved a share buyback program on Thursday, July 20th that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Syntel by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock worth $46,198,000 after acquiring an additional 130,471 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Syntel by 0.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,611,439 shares of the information technology services provider’s stock worth $31,665,000 after acquiring an additional 7,695 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Syntel by 75.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock worth $15,661,000 after acquiring an additional 397,034 shares in the last quarter. Freestone Capital Holdings LLC grew its stake in Syntel by 6.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 735,111 shares of the information technology services provider’s stock worth $12,467,000 after acquiring an additional 46,174 shares in the last quarter. Finally, State Street Corp grew its stake in Syntel by 6.6% in the 2nd quarter. State Street Corp now owns 660,670 shares of the information technology services provider’s stock worth $11,207,000 after acquiring an additional 40,952 shares in the last quarter. Institutional investors and hedge funds own 35.15% of the company’s stock.
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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