Paritosh K. Choksi Purchases 20,000 Shares of Syntel Inc. (SYNT) Stock
Syntel Inc. (NASDAQ:SYNT) Director Paritosh K. Choksi acquired 20,000 shares of Syntel stock in a transaction on Monday, November 21st. The shares were purchased at an average price of $19.50 per share, for a total transaction of $390,000.00. Following the completion of the purchase, the director now directly owns 58,272 shares of the company’s stock, valued at $1,136,304. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Syntel Inc. (NASDAQ:SYNT) opened at 20.15 on Thursday. The company has a 50-day moving average of $21.94 and a 200-day moving average of $38.68. Syntel Inc. has a one year low of $18.00 and a one year high of $50.92. The company’s market cap is $1.69 billion.
Syntel (NASDAQ:SYNT) last posted its earnings results on Thursday, October 20th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.59) by $3.22. The business earned $241.30 million during the quarter, compared to analyst estimates of $249.81 million. Syntel had a positive return on equity of 28.09% and a negative net margin of 3.17%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. Equities research analysts expect that Syntel Inc. will post ($0.71) EPS for the current fiscal year.
SYNT has been the topic of a number of analyst reports. Maxim Group reduced their price objective on shares of Syntel from $45.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, October 4th. SunTrust Banks Inc. cut shares of Syntel from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a report on Monday, October 24th. Barrington Research cut shares of Syntel from an “outperform” rating to a “market perform” rating in a report on Thursday, September 22nd. TheStreet cut shares of Syntel from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Finally, Cantor Fitzgerald set a $43.00 target price on shares of Syntel and gave the stock a “hold” rating in a report on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $37.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pekin Singer Strauss Asset Management IL raised its position in Syntel by 87.2% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 241,609 shares of the company’s stock worth $10,935,000 after buying an additional 112,572 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in Syntel during the second quarter worth $1,091,000. JPMorgan Chase & Co. raised its position in Syntel by 13.5% in the first quarter. JPMorgan Chase & Co. now owns 18,423 shares of the company’s stock worth $920,000 after buying an additional 2,198 shares during the last quarter. BlackRock Group LTD raised its position in Syntel by 19.4% in the first quarter. BlackRock Group LTD now owns 26,244 shares of the company’s stock worth $1,310,000 after buying an additional 4,256 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its position in Syntel by 9.6% in the second quarter. Jensen Investment Management Inc. now owns 9,660 shares of the company’s stock worth $437,000 after buying an additional 850 shares during the last quarter. 36.30% of the stock is owned by institutional investors and hedge funds.
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Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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