Insider Selling: Prashant Ranade Sells 4,800 Shares of Syntel Stock (SYNT)
Syntel (NASDAQ:SYNT) Chairman Prashant Ranade unloaded 4,800 shares of Syntel stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $88.96, for a total transaction of $427,008.00. Following the completion of the transaction, the chairman now directly owns 78,000 shares of the company’s stock, valued at approximately $6,938,880. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Syntel (NASDAQ:SYNT) traded down 0.27% during mid-day trading on Thursday, hitting $89.10. 42,288 shares of the company’s stock traded hands. Syntel has a 1-year low of $71.55 and a 1-year high of $97.23. The stock has a 50-day moving average of $87.9 and a 200-day moving average of $86.22. The company has a market cap of $3.725 billion and a price-to-earnings ratio of 15.41.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.19. The company had revenue of $228.30 million for the quarter, compared to the consensus estimate of $228.63 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts expect that Syntel will post $5.62 EPS for the current fiscal year.
Separately, analysts at Noble Financial raised their price target on shares of Syntel from $107.00 to $112.00 in a research note on Friday, July 18th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Syntel currently has an average rating of “Hold” and an average price target of $89.80.
Syntel, Inc is a provider of information technology (NASDAQ:SYNT) and knowledge process outsourcing (KPO) services to Global 2000 companies.
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