Several other analysts also recently issued reports on SYNT. Maxim Group downgraded shares of Syntel from a buy rating to a hold rating and set a $48.00 target price on the stock. in a research note on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a hold rating and set a $47.00 target price on shares of Syntel in a research note on Tuesday, July 19th. Cantor Fitzgerald set a $43.00 target price on shares of Syntel and gave the company a hold rating in a research note on Tuesday, September 13th. Robert W. Baird boosted their target price on shares of Syntel from $46.00 to $52.00 and gave the company a neutral rating in a research note on Tuesday, September 13th. Finally, Zacks Investment Research downgraded shares of Syntel from a hold rating to a sell rating in a research note 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 given a buy rating to the company’s stock. Syntel currently has an average rating of Hold and a consensus target price of $47.83.
Syntel (NASDAQ:SYNT) opened at 41.09 on Thursday. Syntel has a 52-week low of $40.68 and a 52-week high of $50.92. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 13.13 and a beta of 1.07. The firm has a 50-day moving average price of $44.27 and a 200 day moving average price of $45.23.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company 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 firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities research analysts predict that Syntel will post ($0.67) EPS for the current year.
The firm also recently disclosed a special dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 22nd will be issued 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.
In other Syntel news, insider Raja Ray sold 718 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $42.69, for a total transaction of $30,651.42. Following the completion of the sale, the insider now directly owns 13,151 shares in the company, valued at $561,416.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nitin Rakesh sold 1,750 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $42.01, for a total transaction of $73,517.50. Following the sale, the chief executive officer now owns 49,600 shares of the company’s stock, valued at $2,083,696. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SYNT. Renaissance Technologies LLC boosted its stake in Syntel by 24.1% in the first quarter. Renaissance Technologies LLC now owns 787,190 shares of the company’s stock worth $39,304,000 after buying an additional 153,100 shares during the period. Invictus RG purchased a new stake in Syntel during the first quarter worth about $142,000. BlackRock Institutional Trust Company N.A. boosted its stake in Syntel by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 766,093 shares of the company’s stock worth $38,251,000 after buying an additional 11,038 shares during the period. JPMorgan Chase & Co. boosted its stake in Syntel by 13.5% in the first quarter. JPMorgan Chase & Co. now owns 18,423 shares of the company’s stock worth $920,000 after buying an additional 2,198 shares during the period. Finally, BlackRock Group LTD boosted its stake in Syntel by 19.4% in the first quarter. BlackRock Group LTD now owns 26,244 shares of the company’s stock worth $1,310,000 after buying an additional 4,256 shares during the period. Institutional investors 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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