Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald set a $43.00 target price on Syntel and gave the company a hold rating in a report on Wednesday, September 7th. Zacks Investment Research raised Syntel from a sell rating to a hold rating in a research note on Tuesday, June 28th. William Blair lowered Syntel from a market perform rating to an underperform rating in a research note on Thursday, September 15th. Maxim Group lowered Syntel from a buy rating to a hold rating and set a $48.00 price target on the stock. in a research note on Friday, July 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reissued a hold rating and set a $47.00 price target on shares of Syntel in a research note on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $45.00.
Syntel (NASDAQ:SYNT) opened at 26.50 on Wednesday. Syntel has a 1-year low of $25.15 and a 1-year high of $50.92. The firm has a market capitalization of $2.23 billion, a PE ratio of 8.47 and a beta of 1.12. The company’s 50-day moving average price is $41.68 and its 200 day moving average price is $44.57.
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. The firm had revenue of $246 million for the quarter, compared to analysts’ expectations of $249.12 million. Syntel had a return on equity of 22.35% and a net margin of 26.49%. Syntel’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, equities analysts anticipate that Syntel will post ($0.67) EPS for the current year.
The company also recently announced a special dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were given a $15.00 dividend. This is a positive change from Syntel’s previous special dividend of $2.25. The ex-dividend date was Tuesday, October 4th.
In related news, CEO Nitin Rakesh sold 1,750 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $42.01, for a total value of $73,517.50. Following the transaction, the chief executive officer now directly owns 49,600 shares of the company’s stock, valued at approximately $2,083,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Raja Ray sold 718 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $42.69, for a total value of $30,651.42. Following the completion of the transaction, the insider now directly owns 13,151 shares in the company, valued at $561,416.19. The disclosure for this sale can be found here. 61.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SYNT. FIL Ltd raised its position in shares of Syntel by 73.7% in the second quarter. FIL Ltd now owns 1,063,407 shares of the company’s stock valued at $48,129,000 after buying an additional 451,056 shares during the period. Schroder Investment Management Group raised its position in Syntel by 32.1% in the second quarter. Schroder Investment Management Group now owns 1,313,676 shares of the company’s stock valued at $59,457,000 after buying an additional 319,574 shares during the period. FMR LLC raised its position in Syntel by 8.1% in the second quarter. FMR LLC now owns 4,216,162 shares of the company’s stock valued at $190,823,000 after buying an additional 315,992 shares during the period. Renaissance Technologies LLC raised its position in Syntel by 24.1% in the first quarter. Renaissance Technologies LLC now owns 787,190 shares of the company’s stock valued at $39,304,000 after buying an additional 153,100 shares during the period. Finally, Pekin Singer Strauss Asset Management IL raised its position in Syntel by 87.2% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 241,609 shares of the company’s stock valued at $10,935,000 after buying an additional 112,572 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.
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.