Insider Selling: Syntel SVP Unloads 1,625 Shares of Stock (SYNT)
Syntel (NASDAQ:SYNT) SVP Raja Ray sold 1,625 shares of the company’s stock on the open market in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $75.63, for a total transaction of $122,898.75. Following the transaction, the senior vice president now directly owns 6,750 shares of the company’s stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SYNT shares. Analysts at Susquehanna raised their price target on shares of Syntel (NASDAQ:SYNT) from $60.00 to $70.00 in a research note to investors on Monday, July 22nd. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Syntel (NASDAQ:SYNT) from $66.00 to $71.00 in a research note to investors on Friday, July 19th. They now have a “hold” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Syntel (NASDAQ:SYNT) from $68.00 to $80.00 in a research note to investors on Friday, July 19th. They now have a “buy” rating on the stock.
Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $72.70.
Shares of Syntel (NASDAQ:SYNT) traded up 1.96% during mid-day trading on Friday, hitting $76.14. The stock had a trading volume of 132,270 shares. Syntel has a 52 week low of $51.78 and a 52 week high of $75.50. The stock’s 50-day moving average is $72.68 and its 200-day moving average is $67.15. The company has a market cap of $3.192 billion and a price-to-earnings ratio of 15.99.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.05 by $0.09. The company had revenue of $202.50 million for the quarter, compared to the consensus estimate of $197.92 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts expect that Syntel will post $4.74 EPS for the current fiscal year.
Syntel, Inc is a provider of information technology (NASDAQ:SYNT) and knowledge process outsourcing (KPO) services to Global 2000 companies.
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