Pekin Singer Strauss Asset Management IL cut its stake in Syntel, Inc. (NASDAQ:SYNT) by 12.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 559,118 shares of the information technology services provider’s stock after selling 82,005 shares during the quarter. Syntel comprises about 2.1% of Pekin Singer Strauss Asset Management IL’s holdings, making the stock its 10th biggest holding. Pekin Singer Strauss Asset Management IL owned about 0.67% of Syntel worth $10,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS Asset Management Americas Inc. bought a new position in Syntel in the 2nd quarter worth $181,000. Legal & General Group Plc raised its holdings in Syntel by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after purchasing an additional 881 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in Syntel by 4.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock worth $217,000 after purchasing an additional 515 shares in the last quarter. Voya Investment Management LLC raised its holdings in Syntel by 14.7% in the 2nd quarter. Voya Investment Management LLC now owns 16,026 shares of the information technology services provider’s stock worth $272,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Syntel in the 2nd quarter worth $309,000. Institutional investors and hedge funds own 35.15% of the company’s stock.

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Several research analysts have commented on the stock. ValuEngine upgraded shares of Syntel from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, August 18th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $20.00 price target on shares of Syntel in a research note on Tuesday, October 17th. TheStreet upgraded shares of Syntel from a “d+” rating to a “c” rating in a research note on Tuesday, October 17th. Finally, Loop Capital reiterated a “buy” rating and issued a $28.00 price target on shares of Syntel in a research note on Wednesday, October 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.10.

Syntel, Inc. (SYNT) traded down $0.05 during trading hours on Thursday, reaching $23.66. 214,861 shares of the company’s stock were exchanged, compared to its average volume of 829,892. The company has a market cap of $1,937.12, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of -5.69, a quick ratio of 2.07 and a current ratio of 2.07. Syntel, Inc. has a 1-year low of $15.82 and a 1-year high of $25.80.

Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.17. The business had revenue of $231.34 million during the quarter. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. sell-side analysts anticipate that Syntel, Inc. will post 1.87 EPS for the current fiscal year.

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

Syntel 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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