Legal & General Group Plc cut its stake in shares of Syntel, Inc. (NASDAQ:SYNT) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,035 shares of the information technology services provider’s stock after selling 170 shares during the period. Legal & General Group Plc’s holdings in Syntel were worth $186,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYNT. Laurion Capital Management LP raised its position in 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 valued at $319,000 after buying an additional 1,926 shares during the last quarter. IPG Investment Advisors LLC raised its position in Syntel by 393.7% in the first quarter. IPG Investment Advisors LLC now owns 527,465 shares of the information technology services provider’s stock valued at $8,877,000 after buying an additional 420,625 shares during the last quarter. FIL Ltd raised its position in Syntel by 52.1% in the first quarter. FIL Ltd now owns 732,603 shares of the information technology services provider’s stock valued at $12,330,000 after buying an additional 250,949 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Syntel during the first quarter valued at approximately $373,000. Finally, American International Group Inc. raised its position 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 valued at $335,000 after buying an additional 1,323 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Shares of Syntel, Inc. (NASDAQ:SYNT) traded up 0.33% during midday trading on Friday, reaching $18.26. 324,727 shares of the company traded hands. The company’s 50 day moving average is $17.78 and its 200-day moving average is $18.04. The stock’s market capitalization is $1.53 billion. Syntel, Inc. has a 12 month low of $15.82 and a 12 month high of $46.95.

Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $226.81 million for the quarter. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. Equities research analysts forecast that Syntel, Inc. will post $1.72 earnings per share for the current fiscal year.

Syntel announced that its board has initiated a share repurchase plan on Thursday, July 20th that permits the company to buyback $60.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, July 25th. Maxim Group restated a “hold” rating on shares of Syntel in a report on Thursday, July 20th. Cantor Fitzgerald restated a “hold” rating and issued a $16.00 price objective on shares of Syntel in a report on Thursday, July 20th. ValuEngine upgraded shares of Syntel from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target 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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