Syntel Inc. (NASDAQ:SYNT) – Jefferies Group dropped their Q4 2016 EPS estimates for shares of Syntel in a report released on Friday. Jefferies Group analyst J. Kupferberg now forecasts that the brokerage will post earnings per share of $0.61 for the quarter, down from their previous forecast of $0.68. Jefferies Group also issued estimates for Syntel’s FY2017 earnings at $2.53 EPS.
Several other research firms also recently commented on SYNT. Maxim Group downgraded Syntel from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “hold” rating and set a $47.00 price objective on shares of Syntel in a report on Tuesday, July 19th. Cantor Fitzgerald set a $43.00 price objective on Syntel and gave the company a “hold” rating in a report on Tuesday, September 13th. Robert W. Baird lifted their target price on Syntel from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, September 13th. Finally, Zacks Investment Research cut Syntel from a “hold” rating to a “sell” rating in a research report on Saturday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.83.
Syntel (NASDAQ:SYNT) opened at 40.84 on Monday. The company has a market cap of $3.43 billion, a PE ratio of 13.05 and a beta of 1.07. The firm’s 50-day moving average price is $44.40 and its 200 day moving average price is $45.26. Syntel has a 52-week low of $40.68 and a 52-week high of $50.92.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYNT. C M Bidwell & Associates Ltd. acquired a new position in Syntel during the first quarter valued at $100,000. Pacer Advisors Inc. purchased a new stake in shares of Syntel during the second quarter valued at about $135,000. Invictus RG purchased a new stake in shares of Syntel during the first quarter valued at about $142,000. Cypress Wealth Advisors LLC purchased a new stake in shares of Syntel during the first quarter valued at about $209,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Syntel during the second quarter valued at about $232,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.
In other Syntel news, CEO Nitin Rakesh sold 1,750 shares of the business’s 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 owns 49,600 shares of the company’s stock, valued at $2,083,696. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Avinash Salelkar sold 943 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $45.79, for a total value of $43,179.97. Following the completion of the transaction, the vice president now directly owns 15,021 shares in the company, valued at approximately $687,811.59. The disclosure for this sale can be found here. 61.80% of the stock is owned by company insiders.
The firm also recently disclosed a special dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be given a $15.00 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This is a boost from Syntel’s previous special dividend of $2.25.
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.
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