Syntel (NASDAQ:SYNT)‘s stock had its “hold” rating reissued by equities researchers at Robert W. Baird in a note issued to investors on Thursday. They presently have a $24.00 price target on the information technology services provider’s stock. Robert W. Baird’s price target suggests a potential downside of 6.10% from the stock’s previous close.
A number of other research firms also recently commented on SYNT. ValuEngine downgraded shares of Syntel from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Syntel from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Cowen reaffirmed a “hold” rating and issued a $18.00 target price on shares of Syntel in a research report on Thursday, October 12th. J P Morgan Chase & Co downgraded shares of Syntel from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. Finally, TheStreet raised shares of Syntel from a “d+” rating to a “c” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.60.
Syntel (NASDAQ SYNT) traded down $0.03 during midday trading on Thursday, hitting $25.56. 189,900 shares of the company were exchanged, compared to its average volume of 513,581. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $2,120.23, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Syntel has a 1 year low of $15.82 and a 1 year high of $26.33.
In related news, insider Daniel M. Moore sold 1,080 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total transaction of $26,125.20. Following the completion of the sale, the insider now owns 22,963 shares in the company, valued at approximately $555,474.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 4,769 shares of company stock valued at $119,266. 61.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of SYNT. Schwab Charles Investment Management Inc. lifted its stake in shares of Syntel by 24.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 185,679 shares of the information technology services provider’s stock worth $3,150,000 after acquiring an additional 36,423 shares during the period. Rhumbline Advisers lifted its stake in shares of Syntel by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 43,880 shares of the information technology services provider’s stock worth $744,000 after acquiring an additional 553 shares during the period. Legal & General Group Plc lifted its stake in shares of Syntel by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after acquiring an additional 881 shares during the period. Virginia Retirement Systems ET AL lifted its stake in shares of Syntel by 15.3% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 53,500 shares of the information technology services provider’s stock worth $907,000 after acquiring an additional 7,100 shares during the period. Finally, Bridge City Capital LLC acquired a new stake in shares of Syntel in the 2nd quarter worth $1,771,000. Hedge funds and other institutional investors own 36.61% of the company’s stock.
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Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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