Syntel Vice Chairman Sells $1,204,950 in Stock (SYNT)
Syntel (NASDAQ:SYNT) Vice Chairman Prashant Ranade sold 15,000 shares of Syntel stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $80.33, for a total value of $1,204,950.00. Following the completion of the transaction, the insider now directly owns 86,000 shares of the company’s stock, valued at approximately $6,908,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SYNT. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Syntel in a research note on Wednesday, May 14th. They now have a $91.00 price target on the stock, down previously from $98.00. Separately, analysts at Noble Financial reiterated a “positive” rating on shares of Syntel in a research note on Thursday, April 17th. Finally, analysts at Zacks downgraded shares of Syntel from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 16th. They now have a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Syntel currently has an average rating of “Hold” and an average price target of $86.17.
Shares of Syntel (NASDAQ:SYNT) traded down 0.82% during mid-day trading on Thursday, hitting $81.43. 98,558 shares of the company’s stock traded hands. Syntel has a 52-week low of $61.52 and a 52-week high of $97.23. The stock’s 50-day moving average is $81.06 and its 200-day moving average is $87.30. The company has a market cap of $3.401 billion and a price-to-earnings ratio of 14.87.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, April 17th. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.25 by $0.14. The company had revenue of $219.50 million for the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the prior year, the company posted $1.11 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts expect that Syntel will post $5.30 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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