BidaskClub Lowers Syntel (SYNT) to Strong Sell

BidaskClub cut shares of Syntel (NASDAQ:SYNT) from a sell rating to a strong sell rating in a research note published on Friday.

Other equities analysts have also issued reports about the company. ValuEngine lowered Syntel from a strong-buy rating to a buy rating in a research note on Thursday, March 1st. Barrington Research reiterated a hold rating on shares of Syntel in a report on Monday, February 26th. Zacks Investment Research upgraded Syntel from a sell rating to a hold rating in a report on Tuesday, February 20th. Maxim Group reiterated a hold rating on shares of Syntel in a report on Thursday, February 15th. Finally, Robert W. Baird reiterated a hold rating and issued a $24.00 target price on shares of Syntel in a report on Thursday, December 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $23.00.

Syntel stock opened at $25.28 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of -25.89. The company has a market capitalization of $2,108.97, a P/E ratio of 12.51, a P/E/G ratio of 1.82 and a beta of 0.74. Syntel has a one year low of $15.82 and a one year high of $27.72.

Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.23. The company had revenue of $239.81 million for the quarter. Syntel had a negative return on equity of 218.07% and a net margin of 18.00%. Syntel’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. equities analysts predict that Syntel will post 1.86 earnings per share for the current fiscal year.

In other news, Chairman Prashant Ranade sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $27.18, for a total transaction of $1,359,000.00. Following the completion of the sale, the chairman now owns 257,933 shares in the company, valued at $7,010,618.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Rahul B. Aggarwal sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $26.66, for a total value of $47,988.00. Following the sale, the vice president now owns 10,430 shares of the company’s stock, valued at approximately $278,063.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,800 shares of company stock valued at $1,460,368. 61.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Syntel by 1,208.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,679 shares of the information technology services provider’s stock valued at $130,000 after acquiring an additional 5,245 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Syntel during the fourth quarter valued at approximately $144,000. Comerica Bank bought a new stake in shares of Syntel during the fourth quarter valued at approximately $213,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Syntel during the fourth quarter valued at approximately $221,000. Finally, Koch Industries Inc. bought a new stake in shares of Syntel during the fourth quarter valued at approximately $234,000. Hedge funds and other institutional investors own 40.43% of the company’s stock.

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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.

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