Syntel, Inc. (SYNT) Position Lifted by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company increased its position in shares of Syntel, Inc. (NASDAQ:SYNT) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,574 shares of the information technology services provider’s stock after acquiring an additional 683 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Syntel were worth $468,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SYNT. Sather Financial Group Inc acquired a new position in Syntel during the 2nd quarter valued at approximately $8,400,000. Dimensional Fund Advisors LP increased its stake in Syntel by 75.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock valued at $15,661,000 after purchasing an additional 397,034 shares in the last quarter. Vanguard Group Inc. increased its stake in Syntel by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock valued at $46,198,000 after purchasing an additional 130,471 shares in the last quarter. Bridge City Capital LLC acquired a new position in Syntel during the 2nd quarter valued at approximately $1,771,000. Finally, Teachers Advisors LLC increased its stake in Syntel by 128.4% during the 2nd quarter. Teachers Advisors LLC now owns 144,065 shares of the information technology services provider’s stock valued at $2,443,000 after purchasing an additional 80,977 shares in the last quarter. Hedge funds and other institutional investors own 35.24% of the company’s stock.
In other news, insider Daniel M. Moore sold 1,080 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $24.19, for a total value of $26,125.20. Following the sale, the insider now owns 22,963 shares in the company, valued at $555,474.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 2,780 shares of company stock worth $61,689 in the last quarter. Company insiders own 61.10% of the company’s stock.
SYNT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Cowen Inc restated a “hold” rating and set a $18.00 price target on shares of Syntel in a research note on Tuesday, August 22nd. ValuEngine lowered shares of Syntel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. SunTrust Banks, Inc. restated a “hold” rating and set a $20.00 price target on shares of Syntel in a research note on Tuesday, October 17th. Finally, Robert W. Baird restated a “hold” rating and set a $20.00 price target on shares of Syntel in a research note on Wednesday, October 4th. 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 stock. Syntel presently has a consensus rating of “Hold” and a consensus target price of $23.10.
Shares of Syntel, Inc. (NASDAQ SYNT) opened at $25.18 on Friday. The firm has a market cap of $2,086.26, a price-to-earnings ratio of 12.72, a PEG ratio of 1.35 and a beta of 1.09. Syntel, Inc. has a 52 week low of $15.82 and a 52 week high of $25.80. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69.
Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. The firm had revenue of $231.34 million for the quarter. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. research analysts forecast that Syntel, Inc. will post 1.87 EPS for the current fiscal year.
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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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