Dimensional Fund Advisors LP Has $15.66 Million Stake in Syntel, Inc. (SYNT)
Dimensional Fund Advisors LP grew its stake in Syntel, Inc. (NASDAQ:SYNT) by 75.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 923,431 shares of the information technology services provider’s stock after purchasing an additional 397,034 shares during the period. Dimensional Fund Advisors LP owned approximately 1.10% of Syntel worth $15,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of SYNT. UBS Asset Management Americas Inc. purchased a new stake in shares of Syntel in the second quarter valued at approximately $181,000. Legal & General Group Plc grew its position in shares of Syntel by 8.0% in the second quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after purchasing an additional 881 shares in the last quarter. Eqis Capital Management Inc. grew its position in shares of Syntel by 4.2% in the second quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock valued at $217,000 after purchasing an additional 515 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Syntel in the second quarter valued at approximately $309,000. Finally, American International Group Inc. grew its position in shares of Syntel by 7.1% in the first quarter. American International Group Inc. now owns 19,894 shares of the information technology services provider’s stock valued at $335,000 after purchasing an additional 1,323 shares in the last quarter. Institutional investors and hedge funds own 35.15% of the company’s stock.
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A number of research firms have recently issued reports on SYNT. ValuEngine upgraded Syntel from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded Syntel from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Friday, October 20th. Cowen and Company restated a “hold” rating and issued a $20.00 price target on shares of Syntel in a research report on Thursday, October 19th. TheStreet upgraded Syntel from a “d+” rating to a “c” rating in a research report on Tuesday, October 17th. Finally, Needham & Company LLC increased their price objective on Syntel from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Syntel has a consensus rating of “Hold” and a consensus target price of $23.10.
Syntel, Inc. (SYNT) opened at $23.39 on Friday. Syntel, Inc. has a 52-week low of $15.82 and a 52-week high of $25.80. The company has a market capitalization of $1,937.95, a price-to-earnings ratio of 11.81, a PEG ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of -5.69, a quick ratio of 2.07 and a current ratio of 2.07.
Syntel (NASDAQ:SYNT) last released its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The business had revenue of $231.34 million during the quarter. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. equities research analysts predict that Syntel, Inc. will post 1.87 EPS for the current year.
Syntel announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 20th that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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