Empirical Finance LLC reduced its stake in shares of Syntel, Inc. (NASDAQ:SYNT) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,493 shares of the information technology services provider’s stock after selling 1,824 shares during the period. Empirical Finance LLC’s holdings in Syntel were worth $361,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in shares of Syntel by 5.7% in the fourth quarter. FMR LLC now owns 3,575,237 shares of the information technology services provider’s stock valued at $70,754,000 after buying an additional 191,868 shares during the period. BlackRock Fund Advisors boosted its position in shares of Syntel by 6.6% in the third quarter. BlackRock Fund Advisors now owns 826,652 shares of the information technology services provider’s stock valued at $34,645,000 after buying an additional 51,164 shares during the period. Morgan Stanley boosted its position in shares of Syntel by 10,842.5% in the third quarter. Morgan Stanley now owns 810,398 shares of the information technology services provider’s stock valued at $33,964,000 after buying an additional 802,992 shares during the period. Alpine Woods Capital Investors LLC purchased a new position in shares of Syntel during the third quarter valued at about $27,661,000. Finally, Pekin Singer Strauss Asset Management IL boosted its position in shares of Syntel by 7.7% in the first quarter. Pekin Singer Strauss Asset Management IL now owns 644,999 shares of the information technology services provider’s stock valued at $10,855,000 after buying an additional 45,920 shares during the period. Hedge funds and other institutional investors own 34.30% of the company’s stock.
Shares of Syntel, Inc. (NASDAQ:SYNT) traded up 0.55% during trading on Wednesday, hitting $18.41. The company had a trading volume of 480,491 shares. The stock’s market cap is $1.54 billion. The firm has a 50 day moving average of $17.72 and a 200 day moving average of $19.03. Syntel, Inc. has a 12-month low of $15.82 and a 12-month high of $48.41.
Syntel (NASDAQ:SYNT) last issued its earnings results on Thursday, April 20th. The information technology services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $225.87 million during the quarter. Syntel had a negative net margin of 3.17% and a positive return on equity of 28.09%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, analysts forecast that Syntel, Inc. will post $1.68 earnings per share for the current fiscal year.
SYNT has been the topic of several research analyst reports. Needham & Company LLC lowered their price target on Syntel from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 21st. Zacks Investment Research upgraded Syntel from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, February 1st. Vetr cut Syntel from a “strong-buy” rating to a “buy” rating and set a $25.81 price target on the stock. in a research report on Thursday, February 16th. Cantor Fitzgerald reiterated a “hold” rating and set a $23.00 price target on shares of Syntel in a research report on Thursday, February 16th. Finally, Cowen and Company reiterated a “market perform” rating and set a $18.00 price target (down from $20.00) on shares of Syntel in a research report on Sunday, April 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $29.08.
In other news, Chairman Prashant Ranade acquired 5,867 shares of the stock in a transaction that occurred on Tuesday, April 25th. The stock was acquired at an average price of $17.19 per share, for a total transaction of $100,853.73. Following the transaction, the chairman now directly owns 277,967 shares in the company, valued at $4,778,252.73. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rex E. Jr. Schlaybaugh acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, April 26th. The stock was purchased at an average price of $17.29 per share, with a total value of $34,580.00. Following the transaction, the director now owns 6,114 shares in the company, valued at $105,711.06. The disclosure for this purchase can be found here. Insiders have acquired a total of 19,377 shares of company stock valued at $334,732 in the last quarter. Corporate insiders own 61.80% of the company’s stock.
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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