Syntel, Inc. (NASDAQ:SYNT) has been given an average recommendation of “Hold” by the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.00.
SYNT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Syntel from a “buy” rating to a “hold” rating in a report on Saturday, June 23rd. Barrington Research reissued a “hold” rating on shares of Syntel in a report on Monday, July 23rd. Wells Fargo & Co lowered Syntel from a “market perform” rating to an “underperform” rating in a report on Thursday, June 28th. BidaskClub raised Syntel from a “buy” rating to a “strong-buy” rating in a report on Friday, May 25th. Finally, TheStreet raised Syntel from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd.
Shares of Syntel traded down $0.04, hitting $40.67, during trading on Friday, Marketbeat Ratings reports. 1,750,141 shares of the company were exchanged, compared to its average volume of 617,947. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75. Syntel has a fifty-two week low of $17.78 and a fifty-two week high of $40.89. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 7.25.
In related news, SVP Murlidhar Reddy sold 2,000 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $32.85, for a total value of $65,700.00. Following the completion of the sale, the senior vice president now directly owns 36,889 shares in the company, valued at approximately $1,211,803.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 6,077 shares of company stock valued at $200,710 over the last 90 days. 58.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYNT. Schroder Investment Management Group boosted its stake in Syntel by 388.4% in the 1st quarter. Schroder Investment Management Group now owns 1,066,785 shares of the information technology services provider’s stock valued at $27,235,000 after purchasing an additional 848,366 shares during the period. Acadian Asset Management LLC boosted its stake in Syntel by 319.9% in the 2nd quarter. Acadian Asset Management LLC now owns 540,752 shares of the information technology services provider’s stock valued at $17,351,000 after purchasing an additional 411,957 shares during the period. Millennium Management LLC boosted its stake in Syntel by 57.1% in the 1st quarter. Millennium Management LLC now owns 595,458 shares of the information technology services provider’s stock valued at $15,202,000 after purchasing an additional 216,499 shares during the period. LSV Asset Management boosted its stake in Syntel by 525.9% in the 1st quarter. LSV Asset Management now owns 200,980 shares of the information technology services provider’s stock valued at $5,131,000 after purchasing an additional 168,869 shares during the period. Finally, BlackRock Inc. boosted its stake in Syntel by 7.4% in the 1st quarter. BlackRock Inc. now owns 2,365,275 shares of the information technology services provider’s stock valued at $60,385,000 after purchasing an additional 162,215 shares during the period. Institutional investors and hedge funds own 39.92% of the company’s stock.
Syntel Company Profile
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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