IPG Investment Advisors LLC Has $8.88 Million Stake in Syntel, Inc. (NASDAQ:SYNT)

IPG Investment Advisors LLC reduced its position in shares of Syntel, Inc. (NASDAQ:SYNT) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 523,540 shares of the information technology services provider’s stock after selling 3,925 shares during the period. Syntel makes up about 3.6% of IPG Investment Advisors LLC’s holdings, making the stock its 6th largest position. IPG Investment Advisors LLC owned approximately 0.63% of Syntel worth $8,879,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Eqis Capital Management Inc. boosted its position in 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. American International Group Inc. boosted its position in 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 boosted 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 worth $319,000 after buying an additional 1,926 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in 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. Finally, Swiss National Bank boosted its position in Syntel by 5.5% in the first quarter. Swiss National Bank now owns 55,300 shares of the information technology services provider’s stock worth $931,000 after buying an additional 2,900 shares during the last quarter. 33.51% of the stock is owned by institutional investors.

Shares of Syntel, Inc. (SYNT) opened at 18.36 on Thursday. Syntel, Inc. has a 1-year low of $15.82 and a 1-year high of $46.95. The firm’s market cap is $1.54 billion. The company’s 50-day moving average is $17.68 and its 200 day moving average is $18.06.

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

Syntel declared that its board has approved a share repurchase program 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 repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://sportsperspectives.com/2017/08/10/syntel-inc-nasdaqsynt-is-ipg-investment-advisors-llcs-6th-largest-position-updated.html.

A number of equities analysts have weighed in on the stock. Needham & Company LLC decreased their price objective on shares of Syntel from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, April 21st. Maxim Group restated a “hold” rating on shares of Syntel in a research note on Thursday, July 20th. Zacks Investment Research upgraded shares of Syntel from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, July 25th. Cantor Fitzgerald restated a “hold” rating and issued a $16.00 target price on shares of Syntel in a research note on Thursday, July 20th. Finally, BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. 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 company’s stock. The company presently has a consensus rating of “Hold” and a consensus 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.

Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

Receive News & Ratings for Syntel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply