Syntel, Inc. (SYNT) VP Sells $15,576.00 in Stock
Syntel, Inc. (NASDAQ:SYNT) VP Ben Andradi sold 649 shares of Syntel stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $24.00, for a total transaction of $15,576.00. Following the completion of the transaction, the vice president now owns 12,380 shares of the company’s stock, valued at approximately $297,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Syntel, Inc. (NASDAQ:SYNT) traded down 1.70% during trading on Tuesday, hitting $23.96. 192,837 shares of the stock were exchanged. Syntel, Inc. has a 1-year low of $15.82 and a 1-year high of $25.80. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.68 and a beta of 1.06. The company has a 50-day moving average price of $19.74 and a 200 day moving average price of $18.21.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 119.25% and a net margin of 18.64%. The business had revenue of $231.34 million during the quarter. During the same quarter in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts predict that Syntel, Inc. will post $1.87 earnings per share for the current fiscal year.
Syntel declared that its board has authorized a stock buyback program on Thursday, July 20th that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of hedge funds have recently bought and sold shares of SYNT. Swiss National Bank boosted its stake in Syntel by 5.5% in the 1st quarter. Swiss National Bank now owns 55,300 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 2,900 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Syntel by 26.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 27,503 shares of the information technology services provider’s stock worth $463,000 after purchasing an additional 5,832 shares during the period. American International Group Inc. boosted its stake in Syntel by 7.1% in the 1st quarter. American International Group Inc. now owns 19,894 shares of the information technology services provider’s stock worth $335,000 after purchasing an additional 1,323 shares during the period. Vanguard Group Inc. boosted its stake in Syntel by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 2,593,466 shares of the information technology services provider’s stock worth $43,649,000 after purchasing an additional 80,485 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Syntel by 9.1% in the 1st quarter. Geode Capital Management LLC now owns 417,791 shares of the information technology services provider’s stock worth $7,031,000 after purchasing an additional 34,680 shares during the period. Institutional investors and hedge funds own 34.78% of the company’s stock.
Several research firms have recently weighed in on SYNT. William Blair upgraded shares of Syntel from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 17th. Maxim Group reiterated a “hold” rating on shares of Syntel in a research note on Thursday, July 20th. TheStreet upgraded shares of Syntel from a “d+” rating to a “c” rating in a research note on Tuesday, October 17th. Loop Capital reiterated a “buy” rating and issued a $28.00 target price on shares of Syntel in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $23.10.
Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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