Shares of Syntel, Inc. (NASDAQ:SYNT) reached a new 52-week high and low on Friday . The stock traded as low as $30.35 and last traded at $30.07, with a volume of 6343 shares changing hands. The stock had previously closed at $29.79.
Several research firms have recently weighed in on SYNT. BidaskClub upgraded shares of Syntel from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Zacks Investment Research raised shares of Syntel from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, May 1st. SunTrust Banks reaffirmed a “hold” rating and set a $29.00 target price on shares of Syntel in a report on Friday, April 20th. Wells Fargo raised shares of Syntel from an “underperform” rating to a “market perform” rating in a report on Friday, April 20th. Finally, Wellington Shields raised shares of Syntel from a “hold” rating to an “accumulate” rating in a report on Thursday, April 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.75.
The firm has a market capitalization of $2.47 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.05 and a beta of 0.73. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 7.25.
Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Thursday, April 19th. The information technology services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. The business had revenue of $245.35 million for the quarter. Syntel had a net margin of 18.40% and a negative return on equity of 504.52%. Syntel’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. equities analysts anticipate that Syntel, Inc. will post 1.93 earnings per share for the current year.
In other Syntel news, VP Rahul B. Aggarwal sold 1,800 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $26.66, for a total value of $47,988.00. Following the sale, the vice president now owns 10,430 shares of the company’s stock, valued at approximately $278,063.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel M. Moore sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $26.69, for a total transaction of $53,380.00. The disclosure for this sale can be found here. In the last three months, insiders sold 53,800 shares of company stock worth $1,460,368. Insiders own 61.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SYNT. Schwab Charles Investment Management Inc. grew its holdings in Syntel by 9.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 204,047 shares of the information technology services provider’s stock worth $4,010,000 after acquiring an additional 18,368 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Syntel by 19.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,103,778 shares of the information technology services provider’s stock worth $21,689,000 after purchasing an additional 180,347 shares during the period. James Investment Research Inc. lifted its position in shares of Syntel by 27.8% in the 4th quarter. James Investment Research Inc. now owns 115,935 shares of the information technology services provider’s stock worth $2,665,000 after purchasing an additional 25,235 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Syntel in the 4th quarter worth about $144,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Syntel in the 4th quarter worth about $480,000. 40.66% of the stock is currently owned by institutional investors and hedge funds.
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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