Pekin Singer Strauss Asset Management IL reduced its position in Syntel, Inc. (NASDAQ:SYNT) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,123 shares of the information technology services provider’s stock after selling 3,876 shares during the period. Syntel comprises approximately 1.7% of Pekin Singer Strauss Asset Management IL’s portfolio, making the stock its 12th largest position. Pekin Singer Strauss Asset Management IL owned 0.77% of Syntel worth $10,873,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SYNT. State Street Corp raised its position in shares of Syntel by 8.8% in the fourth quarter. State Street Corp now owns 599,404 shares of the information technology services provider’s stock valued at $11,864,000 after buying an additional 48,343 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Syntel by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,048 shares of the information technology services provider’s stock valued at $10,015,000 after buying an additional 20,926 shares during the period. Norges Bank purchased a new position in shares of Syntel during the fourth quarter valued at about $11,015,000. Teachers Advisors LLC raised its position in shares of Syntel by 6.4% in the fourth quarter. Teachers Advisors LLC now owns 63,228 shares of the information technology services provider’s stock valued at $1,251,000 after buying an additional 3,796 shares during the period. Finally, RK Asset Management LLC raised its position in shares of Syntel by 3.7% in the first quarter. RK Asset Management LLC now owns 235,868 shares of the information technology services provider’s stock valued at $3,970,000 after buying an additional 8,438 shares during the period. 33.51% of the stock is currently owned by institutional investors.

Shares of Syntel, Inc. (SYNT) opened at 18.26 on Friday. The company has a 50-day moving average price of $17.78 and a 200-day moving average price of $18.04. The company’s market cap is $1.53 billion. Syntel, Inc. has a 12-month low of $15.82 and a 12-month high of $46.95.

Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, July 20th. The information technology services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. The firm had revenue of $226.81 million for the quarter. Syntel had a negative return on equity of 110.72% and a negative net margin of 10.11%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. On average, analysts predict that Syntel, Inc. will post $1.72 earnings per share for the current year.

Syntel declared that its Board of Directors has approved a stock buyback program on Thursday, July 20th that authorizes the company to buyback $60.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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Several brokerages have recently issued reports on SYNT. Zacks Investment Research raised Syntel from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, July 25th. ValuEngine lowered Syntel from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company reaffirmed a “market perform” rating and set a $18.00 price target (down previously from $20.00) on shares of Syntel in a research note on Sunday, April 23rd. BidaskClub raised Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $16.00 price target on shares of Syntel in a research note on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.09.

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.

Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

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