Parametric Portfolio Associates LLC Increases Position in Syntel, Inc. (SYNT)

Parametric Portfolio Associates LLC boosted its holdings in shares of Syntel, Inc. (NASDAQ:SYNT) by 47.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,495 shares of the information technology services provider’s stock after acquiring an additional 12,992 shares during the period. Parametric Portfolio Associates LLC’s holdings in Syntel were worth $687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eqis Capital Management Inc. grew its stake in Syntel by 4.2% during the 2nd quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock valued at $217,000 after acquiring an additional 515 shares in the last quarter. Rhumbline Advisers grew its stake in Syntel by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 43,880 shares of the information technology services provider’s stock valued at $744,000 after acquiring an additional 553 shares in the last quarter. Legal & General Group Plc grew its stake in Syntel by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after acquiring an additional 881 shares in the last quarter. BRYN MAWR TRUST Co grew its stake in Syntel by 0.9% during the 2nd quarter. BRYN MAWR TRUST Co now owns 110,661 shares of the information technology services provider’s stock valued at $1,877,000 after acquiring an additional 987 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Syntel by 1.4% during the 2nd quarter. M&T Bank Corp now owns 174,985 shares of the information technology services provider’s stock valued at $2,968,000 after acquiring an additional 2,425 shares in the last quarter. 35.24% of the stock is owned by institutional investors.

Shares of Syntel, Inc. (SYNT) opened at $25.20 on Wednesday. Syntel, Inc. has a one year low of $15.82 and a one year high of $25.80. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69. The firm has a market cap of $2,083.78, a P/E ratio of 12.70, a PEG ratio of 1.34 and a beta of 1.09.

Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The business had revenue of $231.34 million during the quarter. During the same period last year, the company earned $0.63 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. sell-side analysts forecast that Syntel, Inc. will post 1.87 earnings per share for the current year.

In other news, insider Daniel M. Moore sold 1,080 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total value of $26,125.20. Following the completion of the sale, the insider now owns 22,963 shares of the company’s stock, valued at approximately $555,474.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 2,780 shares of company stock valued at $61,689. Corporate insiders own 61.10% of the company’s stock.

Several analysts recently issued reports on the stock. William Blair raised shares of Syntel from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 17th. TheStreet raised shares of Syntel from a “d+” rating to a “c” rating in a research note on Tuesday, October 17th. Loop Capital reaffirmed a “buy” rating and set a $28.00 price objective on shares of Syntel in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Syntel from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 25th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $20.00 price objective on shares of Syntel in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.10.

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Syntel Profile

Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.

Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

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