Syntel (SYNT) is Downgraded by Maxim Group to Hold, Price Target at $48

Syntel (SYNT) was Downgraded by Maxim Group to ” Hold” and the brokerage firm has set the Price Target at $48. Earlier the firm had a rating of “Buy ” on the company shares. Maxim Group advised their investors in a research report released on Jul 15, 2016.

Many Wall Street Analysts have commented on Syntel. Shares were Reiterated by Needham on Apr 22, 2016 to “Buy” and Lowered the Price Target to $ 48 from a previous price target of $52 .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 .

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 -1.48 points or -3.11% at $46.16 with 4,54,820 shares getting traded on Friday. Post opening the session at $47.68, the shares hit an intraday low of $45.95 and an intraday high of $47.97 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 24, 2016, Prashant Ranade (Executive Vice Chairman) sold 15,000 shares at $43.90 per share price. According to the SEC, on May 2, 2016, Nitin Rakesh (CEO and President) sold 10,000 shares at $42.77 per share price. On Mar 7, 2016, Murlidhar Reddy (Senior Vice President) sold 1,600 shares at $46.68 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.


Leave a Reply

Syntel - Is it time to Sell?

Top Brokerage Firms are advising their investors on Syntel. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.