Syntel Inc. (NASDAQ:SYNT)‘s stock had its “hold” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued on Wednesday. They currently have a $43.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 1.34% from the company’s previous close.
Syntel (NASDAQ:SYNT) opened at 42.43 on Wednesday. Syntel has a one year low of $41.17 and a one year high of $50.92. The stock has a market cap of $3.56 billion and a P/E ratio of 13.56. The stock has a 50 day moving average of $45.49 and a 200-day moving average of $45.56.
Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The business earned $246 million during the quarter, compared to analyst estimates of $249.12 million. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. Analysts anticipate that Syntel will post $2.64 EPS for the current year.
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Other large investors recently bought and sold shares of the company. C M Bidwell & Associates Ltd. bought a new stake in Syntel during the first quarter valued at $100,000. Invictus RG bought a new stake in Syntel during the first quarter valued at $142,000. Cypress Wealth Advisors LLC bought a new stake in Syntel during the first quarter valued at $209,000. Acadian Asset Management LLC bought a new stake in Syntel during the second quarter valued at $232,000. Finally, Strs Ohio increased its stake in Syntel by 9.1% in the second quarter. Strs Ohio now owns 6,000 shares of the company’s stock valued at $271,000 after buying an additional 500 shares during the last quarter.
A number of other research firms also recently commented on SYNT. Maxim Group downgraded shares of Syntel from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Syntel in a report on Tuesday, July 19th. Jefferies Group reaffirmed a “hold” rating on shares of Syntel in a report on Saturday, May 14th. Zacks Investment Research raised shares of Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Syntel in a report on Monday, May 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Syntel currently has an average rating of “Hold” and an average target price of $48.71.
In related news, VP Avinash Salelkar sold 943 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $45.79, for a total value of $43,179.97. Following the completion of the sale, the vice president now owns 15,021 shares of the company’s stock, valued at $687,811.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anil Jain sold 1,250 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $46.16, for a total transaction of $57,700.00. Following the completion of the sale, the insider now directly owns 12,690 shares of the company’s stock, valued at approximately $585,770.40. The disclosure for this sale can be found here.
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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