Callahan Advisors Lowers stake in Syntel (SYNT)

Syntel (SYNT) : Callahan Advisors reduced its stake in Syntel by 27.35% during the most recent quarter end. The investment management company now holds a total of 8,950 shares of Syntel which is valued at $236,549 after selling 3,370 shares in Syntel , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Syntel makes up approximately 0.06% of Callahan Advisors’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in SYNT in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 1,290 shares of Syntel which is valued at $33,463.First National Bank Of Omaha boosted its stake in SYNT in the latest quarter, The investment management firm added 1,405 additional shares and now holds a total of 13,530 shares of Syntel which is valued at $350,968. Syntel makes up approx 0.03% of First National Bank Of Omaha’s portfolio.Hays Advisory reduced its stake in SYNT by selling 16,166 shares or 9.64% in the most recent quarter. The Hedge Fund company now holds 151,486 shares of SYNT which is valued at $4,061,340. Syntel makes up approx 0.69% of Hays Advisory’s portfolio.Rk Asset Management reduced its stake in SYNT by selling 6,352 shares or 3.39% in the most recent quarter. The Hedge Fund company now holds 181,230 shares of SYNT which is valued at $4,858,776. Syntel makes up approx 4.44% of Rk Asset Management’s portfolio. Washington Trust Bank sold out all of its stake in SYNT during the most recent quarter. The investment firm sold 47 shares of SYNT which is valued $1,224.

Syntel closed down -0.06 points or -0.23% at $26.43 with 4,42,459 shares getting traded on Friday. Post opening the session at $26.4, the shares hit an intraday low of $26.37 and an intraday high of $26.82 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Syntel reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.63. The company had revenue of $246.00 million for the quarter, compared to analysts expectations of $249.17 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Syntel. Shares were Reiterated by Maxim Group on Oct 4, 2016 to “Hold” and Lowered the Price Target to $ 28 from a previous price target of $45 .Syntel was Downgraded by Barrington Research to ” Mkt Perform” on Sep 22, 2016.

Syntel Inc. (Syntel) is a provider of digital transformation information technology (IT) and knowledge process outsourcing (KPO) services. Syntel operates through five segments: Banking and Financial Services Healthcare and Life Sciences Insurance Retail Logistics and Telecom and Manufacturing. The Banking and Financial Services segment serves financial institutions around the world. The Healthcare and Life Sciences segment serves various companies in the healthcare industry. The Insurance segment serves property and casualty insurers insurance brokers personal commercial life and retirement insurance service providers. The Retail Logistics and Telecom segment serves a range of retailers and distributors and clients in the logistics and telecom industry. The Manufacturing segment provides business consulting and technology services for industrial and automotive clients. The Company offers its products and services under the Syntel brand.

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