Syntel Inc. (SYNT) Trading Up 2.5%
Shares of Syntel Inc. (NASDAQ:SYNT) were up 2.5% on Tuesday . The stock traded as high as $43.87 and last traded at $43.55, with a volume of 410,118 shares. The stock had previously closed at $42.48.
Several equities analysts have weighed in on the company. Maxim Group cut Syntel from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. Cantor Fitzgerald set a $43.00 price objective on Syntel and gave the company a “hold” rating in a report on Wednesday, September 7th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Syntel in a report on Tuesday, July 19th. Zacks Investment Research raised Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Syntel in a report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $47.83.
The firm has a market capitalization of $3.61 billion, a P/E ratio of 13.73 and a beta of 1.07. The company has a 50-day moving average price of $44.86 and a 200-day moving average price of $45.38.
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Syntel (NASDAQ:SYNT) last released its earnings results on Thursday, July 21st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The company earned $246 million during the quarter, compared to analyst estimates of $249.12 million. Syntel had a return on equity of 22.35% and a net margin of 26.49%. Syntel’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Equities analysts expect that Syntel Inc. will post $0.98 earnings per share for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be issued a $15.00 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This is a positive change from Syntel’s previous special dividend of $2.25.
In other Syntel news, insider Prashant Ranade sold 1,500 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $46.56, for a total transaction of $69,840.00. Following the completion of the transaction, the insider now directly owns 75,300 shares of the company’s stock, valued at $3,505,968. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anil Jain sold 1,250 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $45.60, for a total value of $57,000.00. Following the transaction, the insider now directly owns 13,940 shares of the company’s stock, valued at $635,664. The disclosure for this sale can be found here. 61.80% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in SYNT. FMR LLC raised its position in shares of Syntel by 8.1% in the second quarter. FMR LLC now owns 4,216,162 shares of the company’s stock valued at $190,823,000 after buying an additional 315,992 shares during the period. Vanguard Group Inc. raised its position in shares of Syntel by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,446,386 shares of the company’s stock valued at $110,723,000 after buying an additional 61,905 shares during the period. Schroder Investment Management Group raised its position in shares of Syntel by 32.1% in the second quarter. Schroder Investment Management Group now owns 1,313,676 shares of the company’s stock valued at $59,457,000 after buying an additional 319,574 shares during the period. FIL Ltd raised its position in shares of Syntel by 73.7% in the second quarter. FIL Ltd now owns 1,063,407 shares of the company’s stock valued at $48,129,000 after buying an additional 451,056 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Syntel by 2.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,045,941 shares of the company’s stock valued at $47,339,000 after buying an additional 28,246 shares during the period. 34.10% of the stock is owned by institutional investors and hedge funds.
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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