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.

WARNING: “Syntel, Inc. (SYNT) Given Hold Rating at Robert W. Baird” was first posted by Marea Informative and is the property of of Marea Informative. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at http://www.mareainformativa.com/syntel-inc-synt-given-hold-rating-at-robert-w-baird/117768/.

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.

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)

Receive News & Stock Ratings for Syntel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel Inc. and related stocks with our FREE daily email newsletter.