Syntel Inc. (NASDAQ:SYNT) – SunTrust Banks dropped their Q4 2016 earnings per share estimates for Syntel in a research report issued to clients and investors on Monday. SunTrust Banks analyst F. Atkins now anticipates that the brokerage will post earnings of $0.62 per share for the quarter, down from their previous estimate of $0.68. SunTrust Banks also issued estimates for Syntel’s Q1 2017 earnings at $0.57 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.72 EPS, FY2017 earnings at $2.61 EPS and FY2018 earnings at $2.81 EPS.
Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, July 21st. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Syntel had a net margin of 26.49% and a return on equity of 22.35%. The business earned $246 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the prior year, the company earned $0.72 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year.
A number of other equities research analysts have also weighed in on the stock. Maxim Group lowered their price target on shares of Syntel from $45.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday. Barrington Research lowered shares of Syntel from an “outperform” rating to a “market perform” rating in a report on Thursday, September 22nd. William Blair lowered shares of Syntel from a “market perform” rating to an “underperform” rating in a report on Thursday, September 15th. Cantor Fitzgerald set a $43.00 price target on shares of Syntel and gave the company a “hold” rating in a report on Tuesday, September 13th. Finally, Robert W. Baird raised their price target on shares of Syntel from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.00.
Shares of Syntel (NASDAQ:SYNT) opened at 26.05 on Wednesday. The stock has a 50 day moving average of $42.74 and a 200-day moving average of $44.84. The stock has a market capitalization of $2.19 billion, a PE ratio of 8.32 and a beta of 1.12. Syntel has a one year low of $25.15 and a one year high of $50.92.
The business also recently disclosed a special dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd were issued a dividend of $15.00 per share. This is a positive change from Syntel’s previous special dividend of $2.25. The ex-dividend date was Tuesday, October 4th.
In other news, insider Anil Jain sold 1,250 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $45.60, for a total value of $57,000.00. Following the transaction, the insider now directly owns 13,940 shares in the company, valued at approximately $635,664. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nitin Rakesh sold 1,750 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $42.01, for a total transaction of $73,517.50. Following the completion of the transaction, the chief executive officer now owns 49,600 shares in the company, valued at $2,083,696. The disclosure for this sale can be found here. Company insiders own 61.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Syntel by 13.3% in the first quarter. Wellington Management Group LLP now owns 301,614 shares of the company’s stock worth $15,060,000 after buying an additional 35,426 shares during the last quarter. Geode Capital Management LLC increased its position in Syntel by 7.1% in the first quarter. Geode Capital Management LLC now owns 298,349 shares of the company’s stock worth $14,896,000 after buying an additional 19,747 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Syntel during the first quarter worth about $1,793,000. UBS Group AG increased its position in Syntel by 14.1% in the first quarter. UBS Group AG now owns 65,784 shares of the company’s stock worth $3,284,000 after buying an additional 8,121 shares during the last quarter. Finally, State Street Corp increased its position in Syntel by 0.6% in the first quarter. State Street Corp now owns 530,084 shares of the company’s stock worth $26,467,000 after buying an additional 3,131 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.
Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.