Syntel, Inc. (NASDAQ:SYNT) traded up 0.7% on Tuesday . The company traded as high as $25.59 and last traded at $23.56. 630,400 shares were traded during mid-day trading, an increase of 20% from the average session volume of 524,469 shares. The stock had previously closed at $23.39.
A number of equities research analysts have recently weighed in on the company. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research raised Syntel from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Friday, October 20th. Cowen and Company reissued a “hold” rating and issued a $20.00 target price on shares of Syntel in a research note on Thursday, October 19th. TheStreet raised Syntel from a “d+” rating to a “c” rating in a research note on Tuesday, October 17th. Finally, Needham & Company LLC upped their price target on Syntel from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.10.
The company has a market cap of $2,090.00, a PE ratio of 11.81, a PEG ratio of 1.25 and a beta of 1.08. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69.
Syntel (NASDAQ:SYNT) last announced its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The firm had revenue of $231.34 million during the quarter. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. analysts anticipate that Syntel, Inc. will post 1.87 EPS for the current year.
Syntel declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 20th that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Several large investors have recently made changes to their positions in SYNT. UBS Asset Management Americas Inc. bought a new position in shares of Syntel in the 2nd quarter worth approximately $181,000. Legal & General Group Plc raised its position in shares of Syntel by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after acquiring an additional 881 shares in the last quarter. Eqis Capital Management Inc. grew its stake in shares of Syntel by 4.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock worth $217,000 after buying an additional 515 shares during the last quarter. PEAK6 Investments L.P. purchased a new stake in shares of Syntel in the 3rd quarter worth approximately $223,000. Finally, Voya Investment Management LLC grew its stake in shares of Syntel by 14.7% in the 2nd quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock worth $272,000 after buying an additional 2,054 shares during the last quarter. 35.08% of the stock is owned by hedge funds and other institutional investors.
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Syntel Company Profile
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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