Sanjay Garg Sells 1,375 Shares of Syntel Inc. (SYNT) Stock
Syntel Inc. (NASDAQ:SYNT) VP Sanjay Garg sold 1,375 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $42.01, for a total transaction of $57,763.75. Following the sale, the vice president now owns 2,750 shares of the company’s stock, valued at $115,527.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Syntel Inc. (NASDAQ:SYNT) opened at 42.48 on Tuesday. The company has a market cap of $3.57 billion, a P/E ratio of 13.57 and a beta of 1.07. The firm’s 50 day moving average is $44.86 and its 200-day moving average is $45.38. Syntel Inc. has a 52 week low of $40.68 and a 52 week high of $50.92.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $246 million for the quarter, compared to the consensus estimate of $249.12 million. Syntel had a net margin of 26.49% and a return on equity of 22.35%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts predict that Syntel Inc. will post $0.98 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be given a $15.00 dividend. This is a boost from Syntel’s previous special dividend of $2.25. The ex-dividend date of this dividend is Tuesday, October 4th.
A number of large investors have recently added to or reduced their stakes in SYNT. C M Bidwell & Associates Ltd. acquired a new stake in shares of Syntel during the first quarter valued at $100,000. Pacer Advisors Inc. purchased a new stake in Syntel during the second quarter worth approximately $135,000. Invictus RG purchased a new stake in Syntel during the first quarter worth approximately $142,000. Cypress Wealth Advisors LLC purchased a new stake in Syntel during the first quarter worth approximately $209,000. Finally, Acadian Asset Management LLC purchased a new stake in Syntel during the second quarter worth approximately $232,000. 34.10% of the stock is owned by institutional investors.
SYNT has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Cantor Fitzgerald restated a “hold” rating and issued a $43.00 price objective on shares of Syntel in a report on Wednesday, July 6th. Maxim Group lowered shares of Syntel from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “hold” rating and issued a $47.00 price objective on shares of Syntel in a report on Tuesday, July 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Syntel in a report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $47.83.
Syntel Company Profile
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.
Receive News & Ratings for Syntel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.