Swiss National Bank grew its position in shares of Syntel, Inc. (NASDAQ:SYNT) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,000 shares of the information technology services provider’s stock after purchasing an additional 6,700 shares during the period. Swiss National Bank owned 0.08% of Syntel worth $2,086,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its holdings in Syntel by 32.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 426,897 shares of the information technology services provider’s stock valued at $10,899,000 after buying an additional 105,541 shares during the period. Convergence Investment Partners LLC purchased a new position in Syntel in the second quarter valued at approximately $5,863,000. Russell Investments Group Ltd. raised its holdings in Syntel by 199.4% in the second quarter. Russell Investments Group Ltd. now owns 127,327 shares of the information technology services provider’s stock valued at $4,073,000 after buying an additional 84,806 shares during the period. FIL Ltd raised its holdings in Syntel by 13.9% in the first quarter. FIL Ltd now owns 569,173 shares of the information technology services provider’s stock valued at $14,531,000 after buying an additional 69,663 shares during the period. Finally, Prudential Financial Inc. raised its holdings in Syntel by 12.2% in the first quarter. Prudential Financial Inc. now owns 95,569 shares of the information technology services provider’s stock valued at $2,440,000 after buying an additional 10,410 shares during the period. 40.78% of the stock is currently owned by institutional investors.
Shares of SYNT traded down $0.01 during midday trading on Friday, hitting $40.97. 332,065 shares of the stock traded hands, compared to its average volume of 635,191. Syntel, Inc. has a 1-year low of $18.82 and a 1-year high of $41.06. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.76. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.96 and a current ratio of 1.96.
Syntel (NASDAQ:SYNT) last announced its quarterly earnings results on Thursday, July 26th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Syntel had a net margin of 18.42% and a return on equity of 3,237.31%. The company had revenue of $249.70 million during the quarter. During the same period last year, the firm posted $0.44 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. Analysts predict that Syntel, Inc. will post 1.97 EPS for the current year.
Several research firms recently commented on SYNT. Zacks Investment Research lowered shares of Syntel from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. BidaskClub lowered shares of Syntel from a “buy” rating to a “hold” rating in a report on Friday, September 14th. Barrington Research reiterated a “hold” rating on shares of Syntel in a research note on Monday, July 23rd. Cantor Fitzgerald reiterated a “hold” rating and set a $41.00 price objective on shares of Syntel in a research note on Monday, July 23rd. Finally, Loop Capital downgraded shares of Syntel from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $29.00.
Syntel, Inc provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom segments. It provides end-to-end, integrated application, and infrastructure management services; develops software applications; and offers legacy modernization services, such as software analysis, language conversion, reverse engineering, database migration, code optimization, cloud onboarding and migration, ecosystem migration, testing, and management.
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