OMERS ADMINISTRATION Corp bought a new position in shares of Syntel Inc. (NASDAQ:SYNT) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 42,200 shares of the company’s stock, valued at approximately $1,769,000.
Other hedge funds have also added to or reduced their stakes in the company. BOKF NA raised its stake in Syntel by 0.4% in the second quarter. BOKF NA now owns 7,931 shares of the company’s stock worth $359,000 after buying an additional 32 shares during the period. Principal Financial Group Inc. raised its stake in Syntel by 0.9% in the second quarter. Principal Financial Group Inc. now owns 7,257 shares of the company’s stock worth $328,000 after buying an additional 67 shares during the period. American International Group Inc. raised its stake in Syntel by 0.9% in the second quarter. American International Group Inc. now owns 18,592 shares of the company’s stock worth $841,000 after buying an additional 164 shares during the period. BlackRock Inc. raised its stake in Syntel by 6.1% in the third quarter. BlackRock Inc. now owns 3,099 shares of the company’s stock worth $131,000 after buying an additional 177 shares during the period. Finally, Aperio Group LLC raised its stake in Syntel by 3.8% in the third quarter. Aperio Group LLC now owns 6,242 shares of the company’s stock worth $262,000 after buying an additional 229 shares during the period. 35.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Syntel Inc. (NASDAQ:SYNT) traded down 0.38% during trading on Thursday, reaching $21.04. The company’s stock had a trading volume of 391,310 shares. The company’s market cap is $1.77 billion. Syntel Inc. has a 52-week low of $18.00 and a 52-week high of $50.92. The firm’s 50-day moving average is $20.20 and its 200 day moving average is $32.14.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.59) by $3.22. The company earned $241.30 million during the quarter, compared to analysts’ expectations of $249.81 million. Syntel had a negative net margin of 3.17% and a positive return on equity of 28.09%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. On average, equities research analysts predict that Syntel Inc. will post ($0.71) EPS for the current fiscal year.
A number of research firms have issued reports on SYNT. Cantor Fitzgerald set a $43.00 target price on Syntel and gave the company a “hold” rating in a report on Thursday, October 20th. Cowen and Company initiated coverage on Syntel in a report on Wednesday. They set a “market perform” rating and a $23.00 price objective on the stock. Needham & Company LLC decreased their price objective on Syntel from $48.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, October 21st. TheStreet lowered Syntel from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Finally, Zacks Investment Research raised Syntel from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Syntel currently has an average rating of “Hold” and a consensus target price of $34.00.
In related news, insider Christopher Mason sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $20.72, for a total value of $41,440.00. Following the completion of the sale, the insider now owns 6,000 shares of the company’s stock, valued at $124,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel M. Moore acquired 4,297 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was purchased at an average cost of $19.99 per share, with a total value of $85,897.03. Following the acquisition, the insider now directly owns 18,269 shares of the company’s stock, valued at approximately $365,197.31. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 32,882 shares of company stock valued at $644,846 and have sold 3,935 shares valued at $79,741. Corporate insiders own 61.80% of the company’s stock.
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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