Syntel (SYNT) is Downgraded by Barrington Research to Mkt Perform

Syntel (SYNT) was Downgraded by Barrington Research to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Barrington Research advised their investors in a research report released on Sep 22, 2016.

Many Wall Street Analysts have commented on Syntel. Maxim Group Downgraded Syntel on Jul 15, 2016 to ” Hold”, Price Target of the shares are set at $48.

On the company’s financial health, Syntel reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.63. The company had revenue of $246.00 million for the quarter, compared to analysts expectations of $249.17 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Syntel opened for trading at $42.59 and hit $43.87 on the upside on Tuesday, eventually ending the session at $42.98, with a gain of 1.18% or 0.5 points. The heightened volatility saw the trading volume jump to 8,24,950 shares. Company has a market cap of $3,610 M.

In a different news, on Sep 15, 2016, Sanjay Garg (Vice President) sold 1,375 shares at $42.01 per share price. According to the SEC, on Sep 15, 2016, Prashant Ranade (Executive Vice Chairman) sold 3,200 shares at $42.01 per share price. On Sep 15, 2016, Nitin Rakesh (CEO and President) sold 1,750 shares at $42.01 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.

Syntel

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