Syntel, Inc. (SYNT) Given “Market Perform” Rating at Cowen and Company
Syntel, Inc. (NASDAQ:SYNT)‘s stock had its “market perform” rating restated by analysts at Cowen and Company in a research note issued to investors on Sunday, April 23rd. They currently have a $18.00 price objective on the information technology services provider’s stock, down from their prior price objective of $20.00. Cowen and Company’s price target points to a potential downside of 4.31% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Needham & Company LLC dropped their price target on shares of Syntel from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 21st. Zacks Investment Research raised shares of Syntel from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, February 1st. Loop Capital initiated coverage on shares of Syntel in a research note on Tuesday, January 10th. They issued a “buy” rating and a $27.00 price target on the stock. Vetr downgraded shares of Syntel from a “strong-buy” rating to a “buy” rating and set a $25.81 price target on the stock. in a research note on Thursday, February 16th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $23.00 price target on shares of Syntel in a research note on Thursday, February 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.08.
Syntel (NASDAQ:SYNT) traded up 1.68% during trading on Friday, reaching $18.81. The company had a trading volume of 369,039 shares. The company’s market capitalization is $1.57 billion. The firm’s 50 day moving average is $17.56 and its 200-day moving average is $19.06. Syntel has a 12 month low of $15.82 and a 12 month high of $48.41.
Syntel (NASDAQ:SYNT) last released its earnings results on Thursday, April 20th. The information technology services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $225.87 million during the quarter. Syntel had a positive return on equity of 28.09% and a negative net margin of 3.17%. Syntel’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. On average, equities analysts expect that Syntel will post $1.68 earnings per share for the current year.
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In other Syntel news, VP Avinash Salelkar purchased 1,484 shares of the stock in a transaction dated Tuesday, April 25th. The shares were bought at an average cost of $17.14 per share, with a total value of $25,435.76. Following the completion of the transaction, the vice president now owns 15,825 shares in the company, valued at approximately $271,240.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Murlidhar Reddy purchased 1,986 shares of the stock in a transaction dated Thursday, May 4th. The stock was acquired at an average cost of $17.83 per share, for a total transaction of $35,410.38. Following the completion of the transaction, the insider now owns 34,079 shares of the company’s stock, valued at approximately $607,628.57. The disclosure for this purchase can be found here. Insiders have acquired 19,377 shares of company stock worth $334,732 over the last three months. Company insiders own 61.80% of the company’s stock.
Several large investors have recently modified their holdings of SYNT. US Bancorp DE increased its stake in shares of Syntel by 60.3% in the third quarter. US Bancorp DE now owns 2,760 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 1,038 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Syntel by 14.7% in the third quarter. Pacer Advisors Inc. now owns 3,428 shares of the information technology services provider’s stock valued at $144,000 after buying an additional 439 shares in the last quarter. WFG Advisors LP increased its stake in shares of Syntel by 9,521.1% in the fourth quarter. WFG Advisors LP now owns 12,315 shares of the information technology services provider’s stock valued at $151,000 after buying an additional 12,187 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Syntel by 4.9% in the first quarter. Eqis Capital Management Inc. now owns 12,259 shares of the information technology services provider’s stock valued at $206,000 after buying an additional 570 shares during the last quarter. Finally, HPM Partners LLC bought a new stake in Syntel during the first quarter valued at $219,000. 34.30% of the stock is currently owned by institutional investors.
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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