Robert W. Baird Reaffirms Hold Rating for Syntel (SYNT)

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.

Syntel (NASDAQ:SYNT) last posted its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.17. The firm had revenue of $231.34 million for the quarter. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. equities analysts expect that Syntel will post 1.87 earnings per share for the current year.

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.

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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