Is Syntel, Inc. (SYNT)’s Fuel Running High? The Stock Formed Bullish Descending Triangle Pattern

July 18, 2017 - By Ellis Scott

Investors sentiment decreased to 0.67 in 2016 Q4. Its down 0.50, from 1.17 in 2016Q3. It turned negative, 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.
Group One Trading Limited Partnership reported 700 shares. Thompson Siegel Walmsley Ltd Liability has invested 0% in Syntel, Inc. (NASDAQ:SYNT). Highbridge Cap Mgmt Limited Liability Company accumulated 380,581 shares or 0.13% of the stock. Blackrock Gru invested in 23,848 shares. Rocky Mountain Advisers Limited Co invested in 0% or 52 shares. First Tru Advsrs Ltd Partnership reported 57,127 shares. Invesco accumulated 15,659 shares or 0% of the stock. Wellington Management Gru Limited Liability Partnership invested 0% in Syntel, Inc. (NASDAQ:SYNT). Rhumbline Advisers, a Massachusetts-based fund reported 43,633 shares. Next Gp reported 380 shares stake. Bbva Compass Bancorp has invested 0.02% in Syntel, Inc. (NASDAQ:SYNT). 24,650 are held by Manufacturers Life Commerce The. Third Avenue Mngmt Limited Liability invested in 278,106 shares. Blackrock Institutional Trust Na holds 0% or 724,786 shares in its portfolio. Susquehanna Grp Inc Llp holds 0% or 117,931 shares in its portfolio.

Since May 3, 2017, it had 2 insider purchases, and 0 sales for $100,700 activity. Jain Anil had bought 3,775 shares worth $65,289. 1,986 shares valued at $35,411 were bought by Reddy Murlidhar on Thursday, May 4.

The stock of Syntel, Inc. (SYNT) formed a descending triangle with $17.74 target or 6.00 % above today’s $16.74 share price. The 9 months triangle pattern indicates low risk for the $1.41B company. If the $17.74 price target is reached, the company will be worth $84.60 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.12% or $0.02 during the last trading session, reaching $16.74. About shares traded. Syntel, Inc. (NASDAQ:SYNT) has declined 32.64% since July 18, 2016 and is downtrending. It has underperformed by 49.34% the S&P500.

Analysts expect Syntel, Inc. (NASDAQ:SYNT) to report $0.40 EPS on July, 20.They anticipate $0.30 EPS change or 42.86 % from last quarter’s $0.7 EPS. SYNT’s profit would be $33.69 million giving it 10.46 P/E if the $0.40 EPS is correct. After having $0.46 EPS previously, Syntel, Inc.’s analysts see -13.04 % 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 21 analyst reports since August 14, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Thursday, August 20 by Robert W. Baird. Wells Fargo downgraded the stock to “Market Perform” rating in Friday, February 19 report. The rating was maintained by Robert W. Baird with “Neutral” on Tuesday, September 13. The stock of Syntel, Inc. (NASDAQ:SYNT) has “Buy” rating given on Thursday, September 10 by Suntrust Robinson. The rating was downgraded by Barrington Research to “Mkt Perform” on Thursday, September 22. The firm has “Buy” rating by Needham given on Friday, October 21. The stock of Syntel, Inc. (NASDAQ:SYNT) earned “Hold” rating by Maxim Group on Tuesday, October 4. Loop Capital initiated Syntel, Inc. (NASDAQ:SYNT) on Tuesday, January 10 with “Buy” rating. On Thursday, September 10 the stock rating was initiated by SunTrust with “Buy”. The stock has “Buy” rating by Needham on Friday, February 17.

More notable recent Syntel, Inc. (NASDAQ:SYNT) news were published by: Seekingalpha.com which released: “Syntel: Price Has Changed, Business Hasn’t” on January 05, 2017, also Globenewswire.com with their article: “Syntel to Announce Second Quarter 2017 Results on Thursday, July 20, 2017” published on July 14, 2017, Fool.com published: “Why Syntel, Inc. Shares Got Clobbered Today” on February 16, 2017. More interesting news about Syntel, Inc. (NASDAQ:SYNT) were released by: Seekingalpha.com and their article: “Syntel Demonstrates The Power Of Free Cash Flow” published on April 26, 2017 as well as Seekingalpha.com‘s news article titled: “3 Reasons To Reconsider Your Syntel Investment” with publication date: July 05, 2017.

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