Syntel (SYNT) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 48 from a previous price target of $52 . Needham advised their investors in a research report released on Apr 22, 2016.
Many Wall Street Analysts have commented on Syntel. Shares were Downgraded by Robert W. Baird on Apr 18, 2016 to ” Neutral” and Lowered the Price Target to $ 54 from a previous price target of $56 .Syntel was Downgraded by Wells Fargo to ” Market Perform” on Feb 19, 2016. Maxim Group Upgraded Syntel on Feb 3, 2016 to ” Buy”, Price Target of the shares are set at $58.
On the company’s financial health, Syntel reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.65. The company had revenue of $241.39 million for the quarter, compared to analysts expectations of $245.65 million. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
Syntel closed down -4.73 points or -9.99% at $42.61 with 7,16,112 shares getting traded on Wednesday. Post opening the session at $46.26, the shares hit an intraday low of $42.48 and an intraday high of $46.26 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 7, 2016, Murlidhar Reddy (Senior Vice President) sold 1,600 shares at $46.68 per share price. According to the SEC, on Nov 25, 2015, Daniel M Moore (Chief Administrative Officer) sold 300 shares at $46.53 per share price. On Oct 29, 2015, Prashant Ranade (Executive Vice Chairman) sold 12,997 shares at $47.19 per share price, according to the Form-4 filing with the securities and exchange commission.
Syntel Inc. (Syntel) is a provider of digital transformation information technology (IT) and knowledge process outsourcing (KPO) services. Syntel operates through five segments: Banking and Financial Services Healthcare and Life Sciences Insurance Retail Logistics and Telecom and Manufacturing. The Banking and Financial Services segment serves financial institutions around the world. The Healthcare and Life Sciences segment serves various companies in the healthcare industry. The Insurance segment serves property and casualty insurers insurance brokers personal commercial life and retirement insurance service providers. The Retail Logistics and Telecom segment serves a range of retailers and distributors and clients in the logistics and telecom industry. The Manufacturing segment provides business consulting and technology services for industrial and automotive clients. The Company offers its products and services under the Syntel brand.