Syntel Inc. (NASDAQ:SYNT) declared a special dividend on Tuesday, September 13th. Shareholders of record on Thursday, September 22nd will be given a dividend of 15.00 per share on Monday, October 3rd. The ex-dividend date is Tuesday, October 4th. This is a positive change from Syntel’s previous special dividend of $2.25.
Syntel (NASDAQ:SYNT) opened at 41.91 on Monday. The firm’s 50-day moving average price is $43.93 and its 200-day moving average price is $45.15. Syntel has a 1-year low of $40.68 and a 1-year high of $50.92. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 13.39 and a beta of 1.07.
Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Syntel had a return on equity of 22.35% and a net margin of 26.49%. The firm had revenue of $246 million for the quarter, compared to the consensus estimate of $249.12 million. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts forecast that Syntel will post ($0.67) EPS for the current fiscal year.
In related news, CEO Nitin Rakesh sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $42.01, for a total value of $73,517.50. Following the transaction, the chief executive officer now owns 49,600 shares in the company, valued at $2,083,696. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Avinash Salelkar sold 943 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $45.79, for a total value of $43,179.97. Following the completion of the transaction, the vice president now owns 15,021 shares in the company, valued at approximately $687,811.59. The disclosure for this sale can be found here. 61.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SYNT. Rhumbline Advisers boosted its stake in shares of Syntel by 2.4% in the second quarter. Rhumbline Advisers now owns 43,789 shares of the company’s stock worth $1,982,000 after buying an additional 1,042 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of Syntel during the second quarter worth about $360,000. TIAA CREF Investment Management LLC boosted its stake in shares of Syntel by 1.3% in the second quarter. TIAA CREF Investment Management LLC now owns 172,848 shares of the company’s stock worth $7,823,000 after buying an additional 2,241 shares during the last quarter. FMR LLC boosted its stake in shares of Syntel by 8.1% in the second quarter. FMR LLC now owns 4,216,162 shares of the company’s stock worth $190,823,000 after buying an additional 315,992 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of Syntel during the second quarter worth about $235,000. Institutional investors and hedge funds own 34.06% of the company’s stock.
A number of brokerages have recently weighed in on SYNT. Maxim Group downgraded Syntel from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a research note on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “hold” rating and issued a $47.00 target price on shares of Syntel in a research note on Tuesday, July 19th. Cantor Fitzgerald set a $43.00 target price on Syntel and gave the stock a “hold” rating in a research note on Tuesday, September 13th. Robert W. Baird boosted their target price on Syntel from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 13th. Finally, Zacks Investment Research downgraded Syntel from a “hold” rating to a “sell” rating in a research note on Saturday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Syntel currently has a consensus rating of “Hold” and a consensus price target of $47.83.
Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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