Syntel Inc. (NASDAQ:SYNT) had its price objective reduced by research analysts at Maxim Group from $45.00 to $28.00 in a report released on Tuesday. The brokerage currently has a “hold” rating on the stock. Maxim Group’s price objective points to a potential upside of 7.49% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald set a $43.00 price objective on shares of Syntel and gave the company a “hold” rating in a report on Wednesday, September 7th. Zacks Investment Research raised shares of Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. William Blair cut shares of Syntel from a “market perform” rating to an “underperform” rating in a report on Thursday, September 15th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $47.00 target price on shares of Syntel in a report on Tuesday, July 19th. Finally, Robert W. Baird upped their target price on shares of Syntel from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.00.
Shares of Syntel (NASDAQ:SYNT) opened at 26.05 on Tuesday. The stock’s 50 day moving average is $42.74 and its 200-day moving average is $44.84. The company has a market capitalization of $2.19 billion, a P/E ratio of 8.32 and a beta of 1.12. Syntel has a 12-month low of $25.15 and a 12-month high of $50.92.
Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, beating the 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 firm earned $246 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the previous year, the company earned $0.72 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Syntel will post ($0.67) earnings per share for the current year.
The company also recently disclosed a special dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd were paid a $15.00 dividend. The ex-dividend date of this dividend was Tuesday, October 4th. This is a boost from Syntel’s previous special dividend of $2.25.
In related news, insider Raja Ray sold 718 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 13,151 shares in the company, valued at $561,416.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sanjay Garg sold 1,375 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $42.01, for a total transaction of $57,763.75. Following the transaction, the vice president now owns 2,750 shares of the company’s stock, valued at approximately $115,527.50. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. 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 worth $48,129,000 after buying an additional 451,056 shares in the last quarter. 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. Hedge funds and other 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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