Syntel (SYNT) Downgraded to “Strong Sell” at BidaskClub

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.



Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.23. The company had revenue of $239.81 million during the quarter. Syntel had a net margin of 18.00% and a negative return on equity of 218.07%. Syntel’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. research analysts expect that Syntel will post 1.86 earnings per share for the current year.

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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About Syntel

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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