Schwab Charles Investment Management Inc. Grows Stake in Syntel, Inc. (SYNT)

Schwab Charles Investment Management Inc. increased its stake in shares of Syntel, Inc. (NASDAQ:SYNT) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 0.25% of Syntel worth $4,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. purchased a new stake in shares of Syntel in the 2nd quarter worth $181,000. Legal & General Group Plc lifted 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 buying an additional 881 shares during the period. Voya Investment Management LLC lifted 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 buying an additional 2,054 shares during the period. Roberts Glore & Co. Inc. IL lifted 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 buying an additional 7,250 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Syntel by 17.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,145 shares of the information technology services provider’s stock worth $443,000 after buying an additional 3,978 shares during the period. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on SYNT. Needham & Company LLC cut Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. They noted that the move was a valuation call. William Blair upgraded Syntel from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 17th. SunTrust Banks reaffirmed a “hold” rating and set a $20.00 target price on shares of Syntel in a research report on Tuesday, October 17th. BidaskClub lowered Syntel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 23rd. Finally, ValuEngine lowered Syntel from a “buy” rating to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Syntel presently has an average rating of “Hold” and a consensus price target of $23.31.

In other Syntel news, insider Daniel M. Moore sold 1,080 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total transaction of $26,125.20. Following the transaction, the insider now owns 22,963 shares in the company, valued at $555,474.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,944 shares of company stock worth $99,584 in the last quarter. 61.10% of the stock is currently owned by company insiders.

Shares of Syntel, Inc. (NASDAQ SYNT) traded down $0.48 on Friday, hitting $22.25. The stock had a trading volume of 513,125 shares, compared to its average volume of 348,779. The stock has a market capitalization of $1,843.50, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01. 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, Inc. has a 1 year low of $15.82 and a 1 year high of $26.33.

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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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