Syntel, Inc. (SYNT) Given Hold Rating at Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of Syntel, Inc. (NASDAQ:SYNT) in a research report sent to investors on Wednesday morning. The firm currently has a $20.00 price objective on the information technology services provider’s stock.
SYNT has been the subject of several other research reports. Zacks Investment Research raised Syntel from a hold rating to a buy rating and set a $22.00 price target for the company in a report on Tuesday, July 25th. Maxim Group reissued a hold rating on shares of Syntel in a report on Thursday, July 20th. ValuEngine raised Syntel from a hold rating to a buy rating in a report on Thursday, July 13th. Cowen and Company reissued a hold rating and issued a $18.00 price target on shares of Syntel in a report on Tuesday, August 22nd. Finally, BidaskClub raised Syntel from a strong sell rating to a sell rating in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $21.73.
Syntel (NASDAQ SYNT) traded up 1.45% during trading on Wednesday, reaching $19.59. 277,741 shares of the company’s stock traded hands. The firm’s market cap is $1.64 billion. The company has a 50 day moving average of $18.57 and a 200 day moving average of $17.77. Syntel has a one year low of $15.82 and a one year high of $27.08.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The business had revenue of $226.81 million during the quarter. Syntel had a negative return on equity of 110.72% and a negative net margin of 10.11%. Syntel’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. Equities research analysts predict that Syntel will post $1.72 EPS for the current year.
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Syntel announced that its board has approved a share buyback program on Thursday, July 20th that permits the company to buyback $60.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors have recently added to or reduced their stakes in SYNT. Sather Financial Group Inc acquired a new stake in shares of Syntel during the second quarter worth about $8,400,000. Dimensional Fund Advisors LP lifted its holdings in shares of Syntel by 75.4% during the second quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock worth $15,661,000 after purchasing an additional 397,034 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Syntel by 5.0% during the second quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock worth $46,198,000 after purchasing an additional 130,471 shares during the period. Bridge City Capital LLC acquired a new stake in shares of Syntel during the second quarter worth about $1,771,000. Finally, Teachers Advisors LLC lifted its holdings in shares of Syntel by 128.4% during the second quarter. Teachers Advisors LLC now owns 144,065 shares of the information technology services provider’s stock worth $2,443,000 after purchasing an additional 80,977 shares during the period. 34.71% of the stock is owned by hedge funds and other 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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