Syntel Inc. (SYNT) Stake Decreased by BTIM Corp.
BTIM Corp. decreased its stake in Syntel Inc. (NASDAQ:SYNT) by 0.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 788,732 shares of the company’s stock after selling 3,937 shares during the period. BTIM Corp. owned 0.94% of Syntel worth $33,056,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in Syntel during the second quarter worth approximately $135,000. BNP Paribas Arbitrage SA boosted its stake in Syntel by 72.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,392 shares of the company’s stock worth $142,000 after buying an additional 1,424 shares during the period. Acadian Asset Management LLC bought a new stake in Syntel during the second quarter worth approximately $232,000. Pacad Investment Ltd. bought a new stake in Syntel during the second quarter worth approximately $235,000. Finally, Clinton Group Inc. bought a new stake in Syntel during the second quarter worth approximately $270,000. 35.35% of the stock is currently owned by hedge funds and other institutional investors.
Syntel Inc. (NASDAQ:SYNT) traded up 0.10% on Wednesday, hitting $19.42. 104,784 shares of the stock were exchanged. Syntel Inc. has a 12 month low of $18.00 and a 12 month high of $50.92. The firm’s market cap is $1.63 billion. The company has a 50-day moving average of $21.44 and a 200 day moving average of $38.30.
Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of ($2.59) by $3.22. Syntel had a negative net margin of 3.17% and a positive return on equity of 28.09%. The firm had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $249.81 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities research analysts expect that Syntel Inc. will post ($0.71) earnings per share for the current fiscal year.
A number of equities research analysts recently commented on SYNT shares. Maxim Group lowered their price target on shares of Syntel from $45.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, October 4th. SunTrust Banks Inc. cut shares of Syntel from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. 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 price target on shares of Syntel and gave the stock a “hold” rating in a report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.00.
In other Syntel news, insider Raja Ray sold 718 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $42.69, for a total value of $30,651.42. Following the transaction, the insider now directly owns 13,151 shares in the company, valued at $561,416.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajesh Save sold 1,622 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $42.39, for a total transaction of $68,756.58. Following the completion of the transaction, the insider now owns 6,860 shares in the company, valued at $290,795.40. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by corporate insiders.
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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