A number of other research firms have also recently commented on SYNT. Barrington Research cut shares of Syntel from an outperform rating to a market perform rating in a report on Thursday, September 22nd. 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. Zacks Investment Research cut shares of Syntel from a hold rating to a sell rating in a report on Saturday, July 23rd. Robert W. Baird increased 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. Finally, JPMorgan Chase & Co. reiterated a hold rating and set a $47.00 price target on shares of Syntel in a report on Tuesday, July 19th. Two equities 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. The stock currently has a consensus rating of Hold and a consensus price target of $45.00.
Shares of Syntel (NASDAQ:SYNT) opened at 26.06 on Tuesday. The company has a market cap of $2.19 billion, a PE ratio of 8.33 and a beta of 1.12. Syntel has a 12-month low of $25.15 and a 12-month high of $50.92. The company has a 50 day moving average of $43.29 and a 200-day moving average of $44.98.
Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 the consensus estimate of $249.12 million. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Syntel will post ($0.67) earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd were paid a dividend of $15.00 per share. The ex-dividend date was Tuesday, October 4th. This is a boost from Syntel’s previous special dividend of $2.25.
In other news, VP Avinash Salelkar sold 943 shares of Syntel stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $45.79, for a total transaction of $43,179.97. Following the transaction, the vice president now owns 15,021 shares in the company, valued at approximately $687,811.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raja Ray sold 718 shares of Syntel stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $42.69, for a total transaction of $30,651.42. Following the transaction, the insider now owns 13,151 shares in the company, valued at approximately $561,416.19. The disclosure for this sale can be found here. Insiders own 61.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of 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 in the last quarter. Invictus RG purchased a new stake in shares of Syntel during the first quarter valued at approximately $142,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of Syntel by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 766,093 shares of the company’s stock valued at $38,251,000 after buying an additional 11,038 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Syntel by 13.5% in the first quarter. JPMorgan Chase & Co. now owns 18,423 shares of the company’s stock valued at $920,000 after buying an additional 2,198 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Syntel by 19.4% in the first quarter. BlackRock Group LTD now owns 26,244 shares of the company’s stock valued at $1,310,000 after buying an additional 4,256 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
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.
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