Today: The BNP Paribas Arbitrage SA Raises Stake in Syntel Inc. (SYNT)

The BNP Paribas Arbitrage SA Raises Stake in Syntel Inc. (SYNT)

BNP Paribas Arbitrage SA boosted its position in Syntel Inc. (NASDAQ:SYNT) by 72.4% during the third quarter, Holdings Channel reports. The firm owned 3,392 shares of the company’s stock after buying an additional 1,424 shares during the period. BNP Paribas Arbitrage SA’s holdings in Syntel were worth $142,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. purchased a new position in Syntel during the first quarter worth about $100,000. Invictus RG bought a new position in shares of Syntel during the first quarter valued at $142,000. Pacer Advisors Inc. bought a new position in shares of Syntel during the second quarter valued at $135,000. Cypress Wealth Advisors LLC bought a new position in shares of Syntel during the first quarter valued at $209,000. Finally, Acadian Asset Management LLC bought a new position in shares of Syntel during the second quarter valued at $232,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Syntel Inc. (NASDAQ:SYNT) opened at 25.94 on Wednesday. The firm has a 50-day moving average price of $40.57 and a 200 day moving average price of $44.26. The stock has a market capitalization of $2.18 billion, a PE ratio of 8.29 and a beta of 1.12. Syntel Inc. has a 12 month low of $25.15 and a 12 month high of $50.92.

Syntel (NASDAQ:SYNT) last issued its earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Syntel had a return on equity of 22.35% and a net margin of 26.49%. The business earned $246 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Syntel Inc. will post ($0.67) earnings per share for the current year.

The business also recently disclosed a special dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were paid a dividend of $15.00 per share. This is a boost from Syntel’s previous special dividend of $2.25. The ex-dividend date of this dividend was Tuesday, October 4th.

Several equities analysts have recently weighed in on SYNT shares. Zacks Investment Research upgraded Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Cantor Fitzgerald restated a “hold” rating and set a $43.00 price target on shares of Syntel in a report on Wednesday, July 6th. Maxim Group downgraded Syntel from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “hold” rating and set a $47.00 price target on shares of Syntel in a report on Tuesday, July 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $48.00 price target on shares of Syntel in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $45.00.

In related news, VP Avinash Salelkar sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $43.55, for a total transaction of $217,750.00. Following the transaction, the vice president now directly owns 10,021 shares of the company’s stock, valued at approximately $436,414.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Raja Ray sold 718 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $42.69, for a total value of $30,651.42. Following the transaction, the insider now directly owns 13,151 shares in the company, valued at $561,416.19. The disclosure for this sale can be found here. Corporate insiders own 61.80% of the company’s stock.

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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