Syntel (SYNT) Downgraded to Hold at BidaskClub

Syntel (NASDAQ:SYNT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other brokerages have also recently issued reports on SYNT. Barrington Research reissued a “hold” rating on shares of Syntel in a report on Thursday, May 24th. TheStreet raised shares of Syntel from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd. Wellington Shields cut shares of Syntel from a “gradually accumulate” rating to a “hold” rating in a report on Wednesday, June 6th. Wells Fargo & Co cut shares of Syntel from a “market perform” rating to an “underperform” rating in a report on Wednesday, June 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Syntel from a “buy” rating to a “hold” rating in a report on Saturday, June 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $29.00.

Shares of SYNT stock opened at $40.92 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 3.70. Syntel has a one year low of $17.97 and a one year high of $41.05. The stock has a market cap of $3.40 billion, a PE ratio of 18.86, a P/E/G ratio of 2.07 and a beta of 0.80.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, July 26th. The information technology services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. Syntel had a net margin of 18.42% and a return on equity of 3,237.31%. The business had revenue of $249.70 million for the quarter. During the same period in the previous year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. analysts anticipate that Syntel will post 1.97 EPS for the current year.

Several large investors have recently made changes to their positions in the business. SP Asset Management acquired a new stake in shares of Syntel in the second quarter valued at approximately $406,000. Bank of New York Mellon Corp increased its stake in shares of Syntel by 46.5% in the second quarter. Bank of New York Mellon Corp now owns 441,769 shares of the information technology services provider’s stock valued at $14,176,000 after purchasing an additional 140,212 shares during the period. Schroder Investment Management Group increased its stake in shares of Syntel by 14.8% in the second quarter. Schroder Investment Management Group now owns 1,224,935 shares of the information technology services provider’s stock valued at $39,174,000 after purchasing an additional 158,150 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Syntel by 113.7% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 68,611 shares of the information technology services provider’s stock valued at $2,202,000 after purchasing an additional 36,500 shares during the period. Finally, Sensato Investors LLC increased its stake in shares of Syntel by 55.8% in the second quarter. Sensato Investors LLC now owns 205,487 shares of the information technology services provider’s stock valued at $6,594,000 after purchasing an additional 73,600 shares during the period. Institutional investors own 40.78% of the company’s stock.

About Syntel

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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