Insider Selling: Syntel Inc. (SYNT) VP Sells $57,763.75 in Stock
Syntel Inc. (NASDAQ:SYNT) VP Sanjay Garg sold 1,375 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $42.01, for a total value of $57,763.75. Following the transaction, the vice president now directly owns 2,750 shares in the company, valued at approximately $115,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Syntel Inc. (NASDAQ:SYNT) opened at 42.98 on Wednesday. The company has a 50-day moving average of $44.78 and a 200-day moving average of $45.35. The firm has a market cap of $3.61 billion, a P/E ratio of 13.73 and a beta of 1.07. Syntel Inc. has a 12 month low of $40.68 and a 12 month high of $50.92.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Syntel had a net margin of 26.49% and a return on equity of 22.35%. The firm had revenue of $246 million for the quarter, compared to analyst estimates of $249.12 million. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Equities analysts forecast that Syntel Inc. will post ($0.67) EPS for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be paid a $15.00 dividend. The ex-dividend date is Tuesday, October 4th. This is a positive change from Syntel’s previous special dividend of $2.25.
Several equities analysts have issued reports on SYNT shares. Cantor Fitzgerald set a $43.00 price objective on Syntel and gave the stock a “hold” rating in a report on Tuesday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Syntel in a report on Monday, September 12th. Robert W. Baird raised their price target on Syntel from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, September 13th. Zacks Investment Research lowered Syntel from a “hold” rating to a “sell” rating in a report on Saturday, July 23rd. Finally, Maxim Group lowered their price target on Syntel from $48.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.83.
Several large investors have recently modified their holdings of SYNT. C M Bidwell & Associates Ltd. bought a new stake in shares of Syntel during the first quarter worth about $100,000. Pacer Advisors Inc. bought a new stake in shares of Syntel during the second quarter worth about $135,000. Invictus RG bought a new stake in shares of Syntel during the first quarter worth about $142,000. Cypress Wealth Advisors LLC bought a new stake in shares of Syntel during the first quarter worth about $209,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Syntel during the second quarter worth about $232,000. Institutional investors and hedge funds own 34.06% of the company’s stock.
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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