BlackRock Inc. Has $50.65 Million Holdings in Syntel, Inc. (SYNT)

BlackRock Inc. raised its position in Syntel, Inc. (NASDAQ:SYNT) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,203,060 shares of the information technology services provider’s stock after purchasing an additional 71,222 shares during the period. BlackRock Inc. owned 2.66% of Syntel worth $50,648,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Group One Trading L.P. lifted its holdings in shares of Syntel by 52.2% during the 3rd quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock worth $143,000 after acquiring an additional 2,498 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Syntel during the 4th quarter worth $144,000. Comerica Bank bought a new stake in shares of Syntel during the 4th quarter worth $213,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Syntel during the 4th quarter worth $221,000. Finally, PEAK6 Investments L.P. bought a new stake in shares of Syntel during the 3rd quarter worth $223,000. 40.43% of the stock is owned by hedge funds and other institutional investors.

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In other Syntel news, Chairman Prashant Ranade sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 257,933 shares in the company, valued at $7,010,618.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rahul B. Aggarwal sold 1,800 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $26.66, for a total transaction of $47,988.00. Following the completion of the transaction, the vice president now owns 10,430 shares in the company, valued at approximately $278,063.80. The disclosure for this sale can be found here. Insiders sold 53,800 shares of company stock valued at $1,460,368 over the last three months. 61.10% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on SYNT. BidaskClub downgraded shares of Syntel from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine downgraded shares of Syntel from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 1st. Barrington Research reaffirmed a “hold” rating on shares of Syntel in a report on Monday, February 26th. Zacks Investment Research raised shares of Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, William Blair reaffirmed a “market perform” rating on shares of Syntel in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.00.

Syntel stock opened at $25.06 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of -25.89. The firm has a market capitalization of $2,105.66, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.82 and a beta of 0.74. Syntel, Inc. has a twelve month low of $15.82 and a twelve month high of $27.72.

Syntel (NASDAQ:SYNT) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.23. The business had revenue of $239.81 million during the quarter. Syntel had a net margin of 18.00% and a negative return on equity of 218.07%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. equities analysts anticipate that Syntel, Inc. will post 1.86 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

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