Metropolitan Life Insurance Co. NY held its position in shares of Syntel, Inc. (NASDAQ:SYNT) during the first quarter, Holdings Channel reports. The fund owned 22,284 shares of the information technology services provider’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Syntel were worth $375,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Eqis Capital Management Inc. boosted its position in shares of Syntel by 4.9% in the first quarter. Eqis Capital Management Inc. now owns 12,259 shares of the information technology services provider’s stock valued at $206,000 after buying an additional 570 shares during the period. HPM Partners LLC acquired a new position in shares of Syntel during the first quarter valued at $219,000. Laurion Capital Management LP boosted its position 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 valued at $319,000 after buying an additional 1,926 shares during the period. Hikari Power Ltd acquired a new position in shares of Syntel during the first quarter valued at $332,000. Finally, American International Group Inc. boosted 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 during the period. Hedge funds and other institutional investors own 32.85% of the company’s stock.

Shares of Syntel, Inc. (NASDAQ:SYNT) traded down 3.95% during midday trading on Friday, reaching $18.01. 386,400 shares of the company’s stock were exchanged. The company’s 50-day moving average is $18.02 and its 200-day moving average is $17.94. The stock’s market cap is $1.51 billion. Syntel, Inc. has a one year low of $15.82 and a one year high of $46.95.

Syntel (NASDAQ:SYNT) last released its quarterly earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Syntel had a negative return on equity of 110.72% and a negative net margin of 10.11%. The business had revenue of $226.81 million during the quarter. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities analysts expect that Syntel, Inc. will post $1.72 earnings per share for the current fiscal year.

Syntel declared that its board has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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Several brokerages have recently weighed in on SYNT. 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 research note on Tuesday, July 25th. Maxim Group reissued a “hold” rating on shares of Syntel in a report on Thursday, July 20th. ValuEngine raised shares of Syntel from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Needham & Company LLC reduced their target price on shares of Syntel from $23.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 21st. Finally, BidaskClub raised shares of Syntel from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.98.

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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Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

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