Raymond James Financial Services Advisors Inc. bought a new position in shares of Syntel, Inc. (NASDAQ:SYNT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 47,735 shares of the information technology services provider’s stock, valued at approximately $1,097,000.
A number of other institutional investors and hedge funds have also made changes to their positions in SYNT. Group One Trading L.P. boosted its stake in Syntel by 52.2% during the 3rd quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock worth $143,000 after purchasing an additional 2,498 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Syntel during the 4th quarter worth $144,000. Comerica Bank acquired a new stake in Syntel during the 4th quarter worth $213,000. Quantitative Systematic Strategies LLC acquired a new stake in Syntel during the 4th quarter worth $221,000. Finally, PEAK6 Investments L.P. acquired a new stake in Syntel during the 3rd quarter worth $223,000. 39.85% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Syntel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 21st. Barrington Research reissued a “hold” rating on shares of Syntel in a research report on Monday, February 26th. ValuEngine raised shares of Syntel from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th. William Blair reissued a “market perform” rating on shares of Syntel in a research report on Thursday, February 15th. Finally, Zacks Investment Research raised shares of Syntel from a “sell” rating to a “hold” rating in a research report on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Syntel has an average rating of “Hold” and an average price target of $23.00.
In related news, Chairman Prashant Ranade sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $27.18, for a total value of $1,359,000.00. Following the sale, the chairman now directly owns 257,933 shares in the company, valued at approximately $7,010,618.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rahul B. Aggarwal sold 1,800 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $26.66, for a total transaction of $47,988.00. Following the completion of the sale, the vice president now owns 10,430 shares in the company, valued at $278,063.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,833 shares of company stock worth $1,461,209. 61.10% of the stock is owned by insiders.
Syntel, Inc. (SYNT) opened at $27.41 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of -25.89. The firm has a market cap of $2,270.00, a PE ratio of 13.11, a PEG ratio of 1.97 and a beta of 0.76. Syntel, Inc. has a 1 year low of $15.82 and a 1 year high of $27.72.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.23. The firm had revenue of $239.81 million for the quarter. Syntel had a net margin of 18.00% and a negative return on equity of 218.07%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. analysts expect that Syntel, Inc. will post 1.86 earnings per share for the current year.
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Syntel Company 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.
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