Rk Asset Management Lowers stake in Syntel (SYNT)

Syntel (SYNT) : Rk Asset Management reduced its stake in Syntel by 3.39% during the most recent quarter end. The investment management company now holds a total of 181,230 shares of Syntel which is valued at $4,858,776 after selling 6,352 shares in Syntel , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Syntel makes up approximately 4.44% of Rk Asset Management’s portfolio.

Other Hedge Funds, Including , 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.Independent Portfolio Consultants reduced its stake in SYNT by selling 180 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 11,880 shares of SYNT which is valued at $309,474. Syntel makes up approx 0.10% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in SYNT in the latest quarter, The investment management firm added 1,424 additional shares and now holds a total of 3,392 shares of Syntel which is valued at $88,362.Eqis Capital Management boosted its stake in SYNT in the latest quarter, The investment management firm added 520 additional shares and now holds a total of 6,926 shares of Syntel which is valued at $180,422. Syntel makes up approx 0.01% of Eqis Capital Management’s portfolio.

Syntel closed down -0.87 points or -3.25% at $25.94 with 12,88,586 shares getting traded on Tuesday. Post opening the session at $26.79, the shares hit an intraday low of $25.89 and an intraday high of $26.79 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Maxim Group Downgraded Syntel on Jul 15, 2016 to ” Hold”, Price Target of the shares are set at $48.

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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