Pekin Singer Strauss Asset Management IL reduced its stake in Syntel, Inc. (NASDAQ:SYNT) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 641,123 shares of the information technology services provider’s stock after selling 3,876 shares during the period. Syntel makes up 1.7% of Pekin Singer Strauss Asset Management IL’s holdings, making the stock its 12th largest position. Pekin Singer Strauss Asset Management IL’s holdings in Syntel were worth $10,873,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eqis Capital Management Inc. raised its stake 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 worth $217,000 after buying an additional 515 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Syntel by 1.3% in the second quarter. Rhumbline Advisers now owns 43,880 shares of the information technology services provider’s stock worth $744,000 after buying an additional 553 shares during the last quarter. American International Group Inc. raised its stake 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 worth $335,000 after buying an additional 1,323 shares during the last quarter. Laurion Capital Management LP raised its stake in shares of Syntel by 11.3% in the first quarter. Laurion Capital Management LP now owns 18,926 shares of the information technology services provider’s stock worth $319,000 after buying an additional 1,926 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Syntel by 8.1% in the first quarter. GHP Investment Advisors Inc. now owns 31,005 shares of the information technology services provider’s stock worth $522,000 after buying an additional 2,315 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Shares of Syntel, Inc. (NASDAQ:SYNT) opened at 18.26 on Friday. Syntel, Inc. has a one year low of $15.82 and a one year high of $46.95. The company’s market capitalization is $1.53 billion. The firm’s 50-day moving average price is $17.78 and its 200-day moving average price is $18.04.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 20th. The information technology services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The business had revenue of $226.81 million during the quarter. During the same quarter last year, the business earned $0.70 earnings per share. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Analysts anticipate that Syntel, Inc. will post $1.72 earnings per share for the current year.

Syntel declared that its Board of Directors has authorized a share buyback plan on Thursday, July 20th that allows the company to buyback $60.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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A number of analysts recently commented on SYNT shares. Needham & Company LLC decreased their target price on Syntel from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, April 21st. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Zacks Investment Research raised Syntel from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Tuesday, July 25th. Maxim Group reaffirmed a “hold” rating on shares of Syntel in a research report on Thursday, July 20th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $16.00 target price on shares of Syntel in a research report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.09.

About Syntel

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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Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

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