Syntel Chairman Prashant Ranade Sells 4,000 Shares (SYNT)
Syntel (NASDAQ:SYNT) Chairman Prashant Ranade unloaded 4,000 shares of the stock on the open market in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $88.17, for a total transaction of $352,680.00. Following the transaction, the chairman now directly owns 74,000 shares of the company’s stock, valued at approximately $6,524,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $89.80.
Syntel (NASDAQ:SYNT) traded up 0.30% during mid-day trading on Friday, hitting $89.37. 67,645 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’s 50-day moving average is $88.16 and its 200-day moving average is $86.29. The company has a market cap of $3.736 billion and a price-to-earnings ratio of 15.36.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.41 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.14 earnings per share. Syntel’s revenue was up 12.7% compared to the same quarter last year. On average, analysts predict that Syntel will post $5.62 earnings per share 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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