Syntel (NASDAQ:SYNT) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
Several other equities research analysts have also recently issued reports on SYNT. Zacks Investment Research cut shares of Syntel from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Needham & Company LLC cut shares of Syntel from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. They noted that the move was a valuation call. Robert W. Baird reissued a “hold” rating and issued a $24.00 price objective on shares of Syntel in a research report on Thursday, December 21st. Wells Fargo cut shares of Syntel from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $24.16 to $21.00 in a research report on Friday, December 29th. Finally, ValuEngine cut shares of Syntel from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Syntel presently has an average rating of “Hold” and an average price target of $23.00.
SYNT stock opened at $25.42 on Friday. Syntel has a 12 month low of $15.82 and a 12 month high of $27.72. The company has a debt-to-equity ratio of -25.89, a current ratio of 2.17 and a quick ratio of 2.17. The stock has a market cap of $2,094.87, a P/E ratio of 12.58, a PEG ratio of 1.81 and a beta of 0.74.
In other news, Chairman Prashant Ranade sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $27.18, for a total value of $1,359,000.00. Following the completion of the sale, the chairman now owns 257,933 shares in the company, valued at approximately $7,010,618.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Rahul B. Aggarwal sold 1,800 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $26.66, for a total transaction of $47,988.00. Following the completion of the sale, the vice president now owns 10,430 shares of the company’s stock, valued at approximately $278,063.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,800 shares of company stock valued at $1,460,368. Company insiders own 61.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Syntel by 1,208.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,679 shares of the information technology services provider’s stock valued at $130,000 after purchasing an additional 5,245 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Syntel during the 4th quarter worth approximately $144,000. Comerica Bank bought a new position in shares of Syntel during the 4th quarter worth approximately $213,000. Quantitative Systematic Strategies LLC bought a new position in shares of Syntel during the 4th quarter worth approximately $221,000. Finally, Koch Industries Inc. bought a new position in shares of Syntel during the 4th quarter worth approximately $234,000. Institutional investors and hedge funds own 40.43% of the company’s stock.
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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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