Syntel, Inc. (SYNT) Position Held by California Public Employees Retirement System
California Public Employees Retirement System held its stake in Syntel, Inc. (NASDAQ:SYNT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,100 shares of the information technology services provider’s stock at the end of the second quarter. California Public Employees Retirement System owned 0.08% of Syntel worth $1,104,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. UBS Asset Management Americas Inc. bought a new position in Syntel during the second quarter worth about $181,000. Legal & General Group Plc boosted its position in Syntel by 8.0% during the second quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after purchasing an additional 881 shares during the period. Eqis Capital Management Inc. boosted its position in Syntel by 4.2% during the second quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock worth $217,000 after purchasing an additional 515 shares during the period. Fox Run Management L.L.C. bought a new position in Syntel during the second quarter worth about $309,000. Finally, American International Group Inc. boosted its position in Syntel by 7.1% during the first 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. Hedge funds and other institutional investors own 35.15% of the company’s stock.
A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of Syntel from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Friday, October 20th. Cowen and Company reiterated a “hold” rating and set a $20.00 target price on shares of Syntel in a research report on Thursday, October 19th. TheStreet upgraded shares of Syntel from a “d+” rating to a “c” rating in a research report on Tuesday, October 17th. Finally, Needham & Company LLC increased their target price on shares of 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 given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $23.10.
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Shares of Syntel, Inc. (NASDAQ:SYNT) opened at $23.39 on Friday. Syntel, Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $25.80. The stock has a market cap of $1,967.78, a PE ratio of 11.99, a PEG ratio of 1.27 and a beta of 1.09. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07.
Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The firm had revenue of $231.34 million for the quarter. During the same period in the previous year, the company posted $0.63 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. 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 share repurchase program on Thursday, July 20th that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is 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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