Syntel, Inc. (SYNT) Stake Increased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its stake in shares of Syntel, Inc. (NASDAQ:SYNT) by 166.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,423 shares of the information technology services provider’s stock after purchasing an additional 42,160 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.08% of Syntel worth $1,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Syntel by 5.0% during the second quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock valued at $46,198,000 after purchasing an additional 130,471 shares during the period. Dimensional Fund Advisors LP lifted its stake in Syntel by 75.4% in the second quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock worth $15,661,000 after acquiring an additional 397,034 shares during the period. Freestone Capital Holdings LLC lifted its stake in Syntel by 6.7% in the second quarter. Freestone Capital Holdings LLC now owns 735,111 shares of the information technology services provider’s stock worth $12,467,000 after acquiring an additional 46,174 shares during the period. Third Avenue Management LLC lifted its stake in Syntel by 8.3% in the second quarter. Third Avenue Management LLC now owns 488,697 shares of the information technology services provider’s stock worth $8,289,000 after acquiring an additional 37,300 shares during the period. Finally, Northern Trust Corp lifted its stake in Syntel by 4.5% in the second quarter. Northern Trust Corp now owns 454,886 shares of the information technology services provider’s stock worth $7,715,000 after acquiring an additional 19,636 shares during the period. 35.15% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. William Blair raised shares of Syntel from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 17th. Zacks Investment Research raised shares of Syntel from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, July 25th. SunTrust Banks, Inc. reissued a “hold” rating and set a $20.00 price target on shares of Syntel in a research report on Tuesday, October 17th. Maxim Group reissued a “hold” rating on shares of Syntel in a research report on Thursday, July 20th. Finally, Loop Capital reissued a “buy” rating and set a $28.00 price target on shares of Syntel in a research report on Wednesday, October 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.10.

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Syntel, Inc. (SYNT) opened at $23.61 on Monday. Syntel, Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $25.80. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of -5.69. The stock has a market cap of $1,956.18, a PE ratio of 11.92, a PEG ratio of 1.26 and a beta of 1.09.

Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 137.94%. The firm had revenue of $231.34 million for the quarter. During the same quarter last year, the company earned $0.63 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. sell-side analysts forecast that Syntel, Inc. will post 1.87 EPS for the current year.

Syntel declared that its board has initiated a stock buyback plan 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 reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Syntel 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.

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Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

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