Syntel (SYNT) Downgraded by BidaskClub

BidaskClub lowered shares of Syntel (NASDAQ:SYNT) from a hold rating to a sell rating in a report released on Saturday.

Other research analysts also recently issued reports about the stock. ValuEngine raised shares of Syntel from a hold rating to a buy rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of Syntel from a hold rating to a buy rating and set a $27.00 price objective for the company in a report on Friday, October 20th. Needham & Company LLC raised 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. Loop Capital reissued a buy rating and issued 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. Finally, TheStreet raised shares of Syntel from a d+ rating to a c rating in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Syntel currently has an average rating of Hold and an average target price of $23.31.

Syntel (NASDAQ SYNT) opened at $22.99 on Friday. The company has a market cap of $1,904.81, a P/E ratio of 11.21, a P/E/G ratio of 1.23 and a beta of 1.11. Syntel has a fifty-two week low of $15.82 and a fifty-two week high of $26.33. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69.

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, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The company had revenue of $231.34 million during 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% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. analysts predict that Syntel will post 1.87 earnings per share for the current year.

In other Syntel news, insider Daniel M. Moore sold 1,080 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total value of $26,125.20. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 4,769 shares of company stock valued at $119,266. Insiders own 61.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its holdings in shares of Syntel by 67.3% during the 3rd quarter. GSA Capital Partners LLP now owns 137,209 shares of the information technology services provider’s stock worth $2,696,000 after acquiring an additional 55,205 shares during the last quarter. Group One Trading L.P. lifted its holdings in shares of Syntel by 52.2% during the 3rd 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 last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Syntel during the 3rd quarter worth $283,000. Highbridge Capital Management LLC lifted its holdings in shares of Syntel by 72.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 167,848 shares of the information technology services provider’s stock worth $3,298,000 after acquiring an additional 70,777 shares during the last quarter. Finally, PEAK6 Investments L.P. bought a new stake in shares of Syntel during the 3rd quarter worth $223,000. 36.61% of the stock is owned by hedge funds and other institutional investors.

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About Syntel

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)

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