ETRADE Capital Management LLC acquired a new position in Syntel, Inc. (NASDAQ:SYNT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 14,337 shares of the information technology services provider’s stock, valued at approximately $330,000.
Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of Syntel by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 27,574 shares of the information technology services provider’s stock worth $468,000 after purchasing an additional 683 shares during the period. State Street Corp increased its stake in shares of Syntel by 6.6% in the second quarter. State Street Corp now owns 660,670 shares of the information technology services provider’s stock worth $11,207,000 after purchasing an additional 40,952 shares during the period. Chicago Equity Partners LLC bought a new position in shares of Syntel in the fourth quarter worth about $1,903,000. Dimensional Fund Advisors LP increased its stake in shares of Syntel by 19.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,103,778 shares of the information technology services provider’s stock worth $21,689,000 after purchasing an additional 180,347 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Syntel in the third quarter worth about $628,000. Institutional investors and hedge funds own 40.43% of the company’s stock.
In other news, insider Daniel M. Moore sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $26.69, for a total value of $53,380.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Prashant Ranade sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $27.18, for a total value of $1,359,000.00. Following the completion of the sale, the chairman now owns 257,933 shares in the company, valued at $7,010,618.94. The disclosure for this sale can be found here. Insiders have sold 53,833 shares of company stock worth $1,461,209 over the last 90 days. Corporate insiders own 61.10% of the company’s stock.
Syntel, Inc. (NASDAQ:SYNT) opened at $27.33 on Wednesday. Syntel, Inc. has a 12 month low of $15.82 and a 12 month high of $27.72. The company has a debt-to-equity ratio of -25.89, a quick ratio of 2.17 and a current ratio of 2.17. The stock has a market capitalization of $2,260.00, a PE ratio of 13.08, a P/E/G ratio of 1.97 and a beta of 0.76.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.23. Syntel had a negative return on equity of 218.07% and a net margin of 18.00%. The firm had revenue of $239.81 million for the quarter. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company’s revenue was up .8% on a year-over-year basis. equities analysts anticipate that Syntel, Inc. will post 1.86 EPS for the current fiscal year.
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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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