Syntel, Inc. (NASDAQ:SYNT) shares traded up 0.6% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $28.00 and last traded at $27.70. 342,743 shares were traded during trading, a decline of 25% from the average session volume of 459,787 shares. The stock had previously closed at $27.88.
The information technology services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.11. Syntel had a net margin of 18.00% and a negative return on equity of 218.07%. The company had revenue of $245.35 million for the quarter, compared to the consensus estimate of $228.02 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue was up 8.6% compared to the same quarter last year.
A number of research analysts have issued reports on the stock. SunTrust Banks restated a “hold” rating and set a $29.00 target price on shares of Syntel in a research report on Friday. BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a research report on Friday. Wells Fargo upgraded shares of Syntel from an “underperform” rating to a “market perform” rating in a research report on Friday. Wellington Shields upgraded shares of Syntel from a “hold” rating to an “accumulate” rating in a research report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Syntel in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $24.13.
Hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. raised its holdings in Syntel by 1,208.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,679 shares of the information technology services provider’s stock worth $130,000 after buying an additional 5,245 shares during the period. SG Americas Securities LLC acquired a new stake in Syntel during the 4th quarter worth approximately $144,000. Comerica Bank acquired a new stake in Syntel during the 4th quarter worth approximately $213,000. Quantitative Systematic Strategies LLC acquired a new stake in Syntel during the 4th quarter worth approximately $221,000. Finally, Koch Industries Inc. acquired a new stake in Syntel during the 4th quarter worth approximately $234,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.
The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of -25.89. The firm has a market capitalization of $2,182.81, a P/E ratio of 13.93, a P/E/G ratio of 1.89 and a beta of 0.74.
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Syntel, Inc provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom segments. It provides end-to-end, integrated application, and infrastructure management services; develops software applications; and offers legacy modernization services, such as software analysis, language conversion, reverse engineering, database migration, code optimization, cloud onboarding and migration, ecosystem migration, testing, and management.
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