What’s Propelling Syntel Inc (NASDAQ:SYNT) After Lower Shorts Reported?

September 30, 2018 - By Vernon Prom

Syntel, Inc. (NASDAQ:SYNT) Logo

Investors sentiment decreased to 1.37 in 2018 Q2. Its down 0.38, from 1.75 in 2018Q1. It fall, as 20 investors sold Syntel, Inc. shares while 53 reduced holdings. 29 funds opened positions while 71 raised stakes. 32.05 million shares or 0.97% more from 31.74 million shares in 2018Q1 were reported.
Smith Asset Mgmt Grp Inc L P invested in 0.07% or 80,600 shares. The Delaware-based Dupont Cap Corporation has invested 0.03% in Syntel, Inc. (NASDAQ:SYNT). First Advsr L P has invested 0.01% in Syntel, Inc. (NASDAQ:SYNT). Sensato Invsts Ltd Limited Liability Company has 1.02% invested in Syntel, Inc. (NASDAQ:SYNT) for 205,487 shares. Hikari Pwr reported 0.11% stake. 4,137 are held by Sg Americas Securities Ltd Liability Corporation. Bankshares Of Montreal Can holds 0% of its portfolio in Syntel, Inc. (NASDAQ:SYNT) for 718 shares. Sprott Incorporated reported 203,000 shares or 1.33% of all its holdings. Wellington Mgmt Gru Llp has invested 0% in Syntel, Inc. (NASDAQ:SYNT). Ameriprise holds 206,619 shares. Teacher Retirement Systems Of Texas holds 0% or 7,561 shares. Blackrock has invested 0% in Syntel, Inc. (NASDAQ:SYNT). Gru One Trading Ltd Partnership reported 1,325 shares. Los Angeles Capital And Equity Research reported 24,301 shares. Prelude Cap Mngmt Limited Liability Company invested in 0.01% or 2,859 shares.

Since May 9, 2018, it had 0 insider buys, and 3 selling transactions for $134,990 activity. 4,000 Syntel, Inc. (NASDAQ:SYNT) shares with value of $132,700 were sold by Reddy Murlidhar.

The stock of Syntel Inc (NASDAQ:SYNT) registered a decrease of 30.33% in short interest. SYNT’s total short interest was 693,900 shares in September as published by FINRA. Its down 30.33% from 996,000 shares, reported previously. With 671,600 shares average volume, it will take short sellers 1 days to cover their SYNT’s short positions. The short interest to Syntel Inc’s float is 1.68%.

The stock increased 0.02% or $0.01 during the last trading session, reaching $40.98. About 264,729 shares traded. Syntel, Inc. (NASDAQ:SYNT) has risen 118.59% since September 30, 2017 and is uptrending. It has outperformed by 102.97% the S&P500.

Syntel, Inc. provides digital transformation, information technology , and knowledge process outsourcing (KPO) services worldwide. The company has market cap of $3.40 billion. The firm operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom divisions. It has a 19.15 P/E ratio. It offers managed services, including software applications development, maintenance, and digital modernization testing, as well as IT infrastructure, cloud, and migration services.

Syntel, Inc. (NASDAQ:SYNT) Ratings Coverage

Among 5 analysts covering Syntel (NASDAQ:SYNT), 0 have Buy rating, 1 Sell and 4 Hold. Therefore 0 are positive. Syntel had 6 analyst reports since April 5, 2018 according to SRatingsIntel. The stock of Syntel, Inc. (NASDAQ:SYNT) has “Market Perform” rating given on Friday, April 20 by Wells Fargo. As per Thursday, April 19, the company rating was maintained by Cowen & Co. As per Wednesday, June 20, the company rating was downgraded by Wells Fargo. Robert W. Baird maintained Syntel, Inc. (NASDAQ:SYNT) rating on Thursday, April 5. Robert W. Baird has “Hold” rating and $2600 target. The stock of Syntel, Inc. (NASDAQ:SYNT) earned “Hold” rating by SunTrust on Friday, April 20. The rating was maintained by Susquehanna on Friday, April 20 with “Hold”.

Another recent and important Syntel, Inc. (NASDAQ:SYNT) news was published by Globenewswire.com which published an article titled: “Syntel Named a Partner of the Year by Pivotal” on September 24, 2018.

Syntel, Inc. (NASDAQ:SYNT) Institutional Positions Chart

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