Schwab Charles Investment Management Inc. increased its stake in Syntel, Inc. (NASDAQ:SYNT) by 9.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 204,047 shares of the information technology services provider’s stock after purchasing an additional 18,368 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.25% of Syntel worth $4,010,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. bought a new stake in shares of Syntel in the 2nd quarter worth approximately $181,000. Legal & General Group Plc raised its holdings in shares of Syntel by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after purchasing an additional 881 shares during the period. Voya Investment Management LLC raised its holdings in shares of Syntel by 14.7% in the 2nd quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock worth $272,000 after purchasing an additional 2,054 shares during the period. Fox Run Management L.L.C. raised its holdings in shares of Syntel by 40.1% in the 3rd quarter. Fox Run Management L.L.C. now owns 25,500 shares of the information technology services provider’s stock worth $501,000 after purchasing an additional 7,300 shares during the period. Finally, Roberts Glore & Co. Inc. IL raised its holdings in shares of Syntel by 38.7% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 25,975 shares of the information technology services provider’s stock worth $441,000 after purchasing an additional 7,250 shares during the period. 36.61% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. BidaskClub cut shares of Syntel from a “hold” rating to a “sell” rating in a report on Saturday, December 30th. Wells Fargo & Co cut shares of Syntel from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $24.16 to $21.00 in a report on Friday, December 29th. Robert W. Baird reissued a “hold” rating and set a $24.00 target price on shares of Syntel in a report on Thursday, December 21st. Needham & Company LLC cut shares of Syntel from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Syntel from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $23.31.
In other news, insider Daniel M. Moore sold 1,080 shares of the company’s stock in a transaction 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 transaction, the insider now owns 22,963 shares of the company’s stock, valued at $555,474.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 4,769 shares of company stock worth $119,266. Insiders own 61.10% of the company’s stock.
Shares of Syntel, Inc. (NASDAQ:SYNT) opened at $23.50 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of -5.69. Syntel, Inc. has a 1-year low of $15.82 and a 1-year high of $26.33. The stock has a market cap of $1,950.00, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11.
Syntel (NASDAQ:SYNT) last issued its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter. During the same period in the previous year, the firm earned $0.63 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. equities research analysts forecast that Syntel, Inc. will post 1.87 earnings per share for the current fiscal year.
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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.
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