Schwab Charles Investment Management Inc. boosted its stake in shares of Syntel, Inc. (NASDAQ:SYNT) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,047 shares of the information technology services provider’s stock after buying an additional 18,368 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.25% of Syntel worth $4,010,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Syntel by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 27,574 shares of the information technology services provider’s stock worth $468,000 after acquiring an additional 683 shares during the last quarter. AXA purchased a new position in Syntel in the second quarter worth approximately $1,046,000. State Street Corp lifted its stake in Syntel by 6.6% in the second quarter. State Street Corp now owns 660,670 shares of the information technology services provider’s stock worth $11,207,000 after acquiring an additional 40,952 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Syntel by 166.9% during the second quarter. Goldman Sachs Group Inc. now owns 67,423 shares of the information technology services provider’s stock worth $1,143,000 after purchasing an additional 42,160 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Syntel during the second quarter worth approximately $1,082,000. 36.61% of the stock is owned by institutional investors.
SYNT has been the topic of a number of research analyst reports. ValuEngine raised shares of Syntel from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of Syntel from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Friday, October 20th. Wells Fargo & Co cut shares of Syntel from a “market perform” rating to an “underperform” rating and cut their target price for the company from $24.16 to $21.00 in a report on Friday, December 29th. JPMorgan Chase & Co. cut shares of Syntel from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Finally, William Blair raised shares of Syntel from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $23.31.
In other news, insider Daniel M. Moore sold 1,080 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total transaction of $26,125.20. Following the completion of the transaction, 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 available at this hyperlink. In the last ninety days, insiders have sold 4,120 shares of company stock valued at $103,690. Corporate insiders own 61.10% of the company’s stock.
Syntel, Inc. (NASDAQ:SYNT) opened at $23.54 on Friday. Syntel, Inc. has a one year low of $15.82 and a one year high of $26.33. The firm has a market cap of $1,945.41, a PE ratio of 11.48, a P/E/G ratio of 1.29 and a beta of 1.11. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, beating the Zacks’ 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 company had revenue of $231.34 million during the quarter. During the same period in the prior year, the company earned $0.63 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. equities analysts expect 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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