Syntel, Inc. (NASDAQ:SYNT) VP Sanjay Garg sold 875 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $18.15, for a total transaction of $15,881.25. Following the completion of the sale, the vice president now owns 10,517 shares in the company, valued at $190,883.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Syntel, Inc. (NASDAQ SYNT) traded down 0.27% during mid-day trading on Tuesday, reaching $18.80. 133,170 shares of the company were exchanged. Syntel, Inc. has a 12 month low of $15.82 and a 12 month high of $45.83. The company’s 50 day moving average price is $18.58 and its 200 day moving average price is $17.61. The firm’s market capitalization is $1.57 billion.
Syntel (NASDAQ:SYNT) last released its quarterly earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.04. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The business had revenue of $226.81 million for the quarter. During the same quarter in the prior year, the firm earned $0.70 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. Equities analysts anticipate that Syntel, Inc. will post $1.72 earnings per share for the current year.
Syntel announced that its board has initiated a share buyback plan on Thursday, July 20th that permits the company to buyback $60.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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Hedge funds have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. acquired a new stake in shares of Syntel during the second quarter valued at approximately $181,000. Legal & General Group Plc raised its holdings in shares of Syntel by 8.0% during the second quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after acquiring an additional 881 shares during the period. Eqis Capital Management Inc. raised its holdings in shares of Syntel by 4.9% during the first quarter. Eqis Capital Management Inc. now owns 12,259 shares of the information technology services provider’s stock valued at $206,000 after acquiring an additional 570 shares during the period. Voya Investment Management LLC raised its holdings in shares of Syntel by 14.7% during the second quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock valued at $272,000 after acquiring an additional 2,054 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Syntel during the second quarter valued at approximately $309,000. Institutional investors and hedge funds own 34.71% of the company’s stock.
Several research firms have recently commented on SYNT. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, July 25th. Maxim Group reiterated a “hold” rating on shares of Syntel in a research report on Thursday, July 20th. ValuEngine upgraded shares of Syntel from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Cowen and Company restated a “hold” rating and set a $18.00 target price on shares of Syntel in a research report on Tuesday, August 22nd. Finally, BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Syntel has an average rating of “Hold” and an average target price of $25.98.
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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