Is Syntel, Inc. (SYNT) a Sell? The Stock Formed Bearish Multiple Bottom

September 17, 2017 - By Linda Rogers

Investors sentiment decreased to 0.67 in Q4 2016. Its down 0.50, from 1.17 in 2016Q3. It dropped, as 61 investors sold Syntel, Inc. shares while 40 reduced holdings. 26 funds opened positions while 42 raised stakes. 28.53 million shares or 2.78% less from 29.34 million shares in 2016Q3 were reported.
Landscape Cap Mgmt Ltd Co reported 15,860 shares. Millennium Lc reported 515,932 shares stake. 811 were reported by Zurcher Kantonalbank (Zurich Cantonalbank). Blackrock Fund Advsrs holds 1.00 million shares or 0% of its portfolio. State Treasurer State Of Michigan reported 0% of its portfolio in Syntel, Inc. (NASDAQ:SYNT). Huntington State Bank holds 119 shares or 0% of its portfolio. The New York-based Metropolitan Life Insur New York has invested 0% in Syntel, Inc. (NASDAQ:SYNT). Ghp Invest Advsr holds 0.11% of its portfolio in Syntel, Inc. (NASDAQ:SYNT) for 28,690 shares. Michigan-based Rk Asset Management Limited Liability Co has invested 3.61% in Syntel, Inc. (NASDAQ:SYNT). 12,000 are held by Barbara Oil. Laurion Limited Partnership holds 0% of its portfolio in Syntel, Inc. (NASDAQ:SYNT) for 17,000 shares. Los Angeles Cap Management And Equity Research Incorporated reported 39,370 shares stake. Royal Commercial Bank Of Canada, a Ontario – Canada-based fund reported 3,107 shares. Ipg Investment Advsr owns 0% invested in Syntel, Inc. (NASDAQ:SYNT) for 106,840 shares. Zebra Cap Limited Liability Co has invested 0.78% in Syntel, Inc. (NASDAQ:SYNT).

Since May 3, 2017, it had 2 buys, and 0 selling transactions for $100,700 activity. On Wednesday, May 3 the insider Jain Anil bought $65,289. Reddy Murlidhar bought $35,411 worth of stock or 1,986 shares.

The stock of Syntel, Inc. (SYNT) shows a multiple bottoms pattern with $17.00 target or 6.00 % below today’s $18.09 share price. The 6 months chart pattern indicates high risk for the $1.51B company. It was reported on Sep, 17 by Finviz.com. If the $17.00 price target is reached, the company will be worth $90.60 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.33% or $0.06 on September 15, reaching $18.09. About 781,471 shares traded or 143.83% up from the average. Syntel, Inc. (NASDAQ:SYNT) has declined 32.64% since September 17, 2016 and is downtrending. It has underperformed by 49.34% the S&P500.

Analysts await Syntel, Inc. (NASDAQ:SYNT) to report earnings on October, 19. They expect $0.42 earnings per share, down 33.33 % or $0.21 from last year’s $0.63 per share. SYNT’s profit will be $35.06M for 10.77 P/E if the $0.42 EPS becomes a reality. After $0.44 actual earnings per share reported by Syntel, Inc. for the previous quarter, Wall Street now forecasts -4.55 % negative EPS growth.

Syntel, Inc. (NASDAQ:SYNT) Ratings Coverage

Among 11 analysts covering Syntel Inc. (NASDAQ:SYNT), 2 have Buy rating, 0 Sell and 9 Hold. Therefore 18% are positive. Syntel Inc. had 26 analyst reports since August 14, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Friday, July 15 by Maxim Group. The firm has “Neutral” rating by Robert W. Baird given on Monday, April 18. On Tuesday, September 13 the stock rating was maintained by Robert W. Baird with “Neutral”. Barrington Research downgraded the shares of SYNT in report on Thursday, September 22 to “Mkt Perform” rating. SunTrust maintained the stock with “Buy” rating in Wednesday, October 5 report. The stock of Syntel, Inc. (NASDAQ:SYNT) earned “Buy” rating by Needham on Friday, October 21. The stock has “Market Perform” rating by Wells Fargo on Friday, February 19. As per Wednesday, February 3, the company rating was upgraded by Maxim Group. Needham maintained Syntel, Inc. (NASDAQ:SYNT) rating on Friday, February 17. Needham has “Buy” rating and $23 target. The company was initiated on Friday, October 16 by Cantor Fitzgerald.

More news for Syntel, Inc. (NASDAQ:SYNT) were recently published by: Globenewswire.com, which released: “Syntel to Announce Second Quarter 2017 Results on Thursday, July 20, 2017” on July 14, 2017. Seekingalpha.com‘s article titled: “3 Reasons To Reconsider Your Syntel Investment” and published on July 05, 2017 is yet another important article.

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