Vinod Kumar Sahney Purchases 2,500 Shares of Syntel Inc. (SYNT) Stock
Syntel Inc. (NASDAQ:SYNT) Director Vinod Kumar Sahney acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were bought at an average cost of $19.41 per share, for a total transaction of $48,525.00. Following the completion of the acquisition, the director now directly owns 7,923 shares of the company’s stock, valued at $153,785.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Syntel Inc. (NASDAQ:SYNT) traded down 1.57% during midday trading on Tuesday, hitting $19.40. 480,544 shares of the stock traded hands. Syntel Inc. has a one year low of $18.00 and a one year high of $50.92. The company’s market cap is $1.63 billion. The company’s 50 day moving average is $21.44 and its 200-day moving average is $38.30.
Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.59) by $3.22. Syntel had a negative net margin of 3.17% and a positive return on equity of 28.09%. The firm had revenue of $241.30 million for the quarter, compared to analyst estimates of $249.81 million. During the same period last year, the business earned $0.92 EPS. Syntel’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Syntel Inc. will post ($0.71) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in SYNT. Palo Capital Inc. bought a new stake in shares of Syntel during the second quarter valued at approximately $422,000. Acadian Asset Management LLC bought a new stake in shares of Syntel during the second quarter valued at approximately $232,000. Independent Portfolio Consultants Inc. raised its stake in shares of Syntel by 52.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 12,060 shares of the company’s stock valued at $546,000 after buying an additional 4,155 shares in the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Syntel by 0.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 93,003 shares of the company’s stock valued at $4,209,000 after buying an additional 313 shares in the last quarter. Finally, RK Asset Management LLC raised its stake in shares of Syntel by 1.9% in the second quarter. RK Asset Management LLC now owns 187,582 shares of the company’s stock valued at $8,490,000 after buying an additional 3,435 shares in the last quarter. Hedge funds and other institutional investors own 35.35% of the company’s stock.
A number of equities research analysts have recently weighed in on SYNT shares. Maxim Group dropped their price objective on shares of Syntel from $45.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, October 4th. SunTrust Banks Inc. lowered shares of Syntel from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a report on Monday, October 24th. Barrington Research lowered shares of Syntel from an “outperform” rating to a “market perform” rating in a report on Thursday, September 22nd. TheStreet lowered shares of Syntel from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Finally, Cantor Fitzgerald set a $43.00 price objective on shares of Syntel and gave the company a “hold” rating in a report on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $37.00.
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.
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