BidaskClub Upgrades Syntel (SYNT) to Buy

BidaskClub upgraded shares of Syntel (NASDAQ:SYNT) from a hold rating to a buy rating in a research report report published on Tuesday morning.

SYNT has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Syntel from a buy rating to a hold rating in a research report on Saturday, June 23rd. Wells Fargo & Co lowered shares of Syntel from a market perform rating to an underperform rating in a research report on Thursday, June 28th. Barrington Research reissued a hold rating on shares of Syntel in a research report on Tuesday, July 3rd. Cantor Fitzgerald reissued a hold rating and set a $41.00 target price on shares of Syntel in a research report on Monday, July 23rd. Finally, Loop Capital lowered shares of Syntel from a buy rating to a hold rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Syntel presently has an average rating of Hold and a consensus price target of $29.00.

Syntel stock opened at $40.99 on Tuesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.08 and a beta of 0.76. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.96 and a quick ratio of 1.96. Syntel has a fifty-two week low of $18.82 and a fifty-two week high of $41.06.

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

Several large investors have recently bought and sold shares of SYNT. Swiss National Bank increased its holdings in shares of Syntel by 5.4% during the 1st quarter. Swiss National Bank now owns 58,300 shares of the information technology services provider’s stock worth $1,488,000 after purchasing an additional 3,000 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Syntel by 32.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 426,897 shares of the information technology services provider’s stock worth $10,899,000 after purchasing an additional 105,541 shares during the period. Northern Trust Corp increased its holdings in shares of Syntel by 0.6% during the 1st quarter. Northern Trust Corp now owns 465,984 shares of the information technology services provider’s stock worth $11,897,000 after purchasing an additional 2,724 shares during the period. BlackRock Inc. increased its holdings in shares of Syntel by 7.4% during the 1st quarter. BlackRock Inc. now owns 2,365,275 shares of the information technology services provider’s stock worth $60,385,000 after purchasing an additional 162,215 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of Syntel by 10.2% during the 1st quarter. New York State Common Retirement Fund now owns 65,815 shares of the information technology services provider’s stock worth $1,680,000 after purchasing an additional 6,092 shares during the period. Institutional investors own 40.78% 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.

Further Reading: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Syntel (NASDAQ:SYNT)

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