Mcclain Value Management LLC trimmed its stake in Syntel, Inc. (NASDAQ:SYNT) by 31.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,479 shares of the information technology services provider’s stock after selling 60,058 shares during the quarter. Syntel makes up about 3.9% of Mcclain Value Management LLC’s portfolio, making the stock its 16th biggest holding. Mcclain Value Management LLC’s holdings in Syntel were worth $2,954,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Group One Trading L.P. boosted its stake 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 period. SG Americas Securities LLC bought a new position in shares of Syntel during the 4th quarter worth approximately $144,000. UBS Asset Management Americas Inc. bought a new position in shares of Syntel during the 2nd quarter worth approximately $181,000. Legal & General Group Plc boosted its stake in shares of Syntel by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock worth $202,000 after acquiring an additional 881 shares during the period. Finally, Comerica Bank bought a new position in shares of Syntel during the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 36.66% of the company’s stock.
Several research analysts have recently commented on SYNT shares. Wells Fargo & Co downgraded Syntel from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $24.16 to $21.00 in a research note on Friday, December 29th. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised Syntel from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Friday, October 20th. JPMorgan Chase & Co. cut Syntel from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Finally, William Blair raised Syntel from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 17th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.31.
Shares of Syntel, Inc. (NASDAQ SYNT) traded down $0.09 during midday trading on Monday, reaching $22.16. The company’s stock had a trading volume of 114,066 shares, compared to its average volume of 370,678. The firm has a market cap of $1,843.50, a PE ratio of 11.24, a PEG ratio of 1.22 and a beta of 1.01. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07. Syntel, Inc. has a 52-week low of $15.82 and a 52-week high of $26.33.
In other Syntel news, insider Daniel M. Moore sold 1,080 shares of Syntel stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total value of $26,125.20. Following the completion of the transaction, the insider now directly owns 22,963 shares of the company’s stock, valued at approximately $555,474.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 3,944 shares of company stock valued at $99,584 over the last ninety days. Insiders own 61.10% of the company’s stock.
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Syntel Company 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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