Rk Asset Management buys $8,658,785 stake in Syntel (SYNT)

Syntel (SYNT) : Rk Asset Management scooped up 3,435 additional shares in Syntel during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 14, 2016. The investment management firm now holds a total of 187,582 shares of Syntel which is valued at $8,658,785.Syntel makes up approximately 7.59% of Rk Asset Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp sold out all of its stake in SYNT during the most recent quarter. The investment firm sold 23 shares of SYNT which is valued $1,099. Washington Trust Bank added SYNT to its portfolio by purchasing 47 company shares during the most recent quarter which is valued at $2,212.Bnp Paribas Arbitrage Sa boosted its stake in SYNT in the latest quarter, The investment management firm added 1,884 additional shares and now holds a total of 1,968 shares of Syntel which is valued at $92,614.

Syntel closed down -0.34 points or -0.74% at $45.82 with 3,78,870 shares getting traded on Monday. Post opening the session at $46.35, the shares hit an intraday low of $45.67 and an intraday high of $46.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Syntel reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.65. The company had revenue of $241.39 million for the quarter, compared to analysts expectations of $245.65 million. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Syntel. Maxim Group Downgraded Syntel on Jul 15, 2016 to ” Hold”, Price Target of the shares are set at $48.Shares were Reiterated by Needham on Apr 22, 2016 to “Buy” and Lowered the Price Target to $ 48 from a previous price target of $52 .Shares were Downgraded by Robert W. Baird on Apr 18, 2016 to ” Neutral” and Lowered the Price Target to $ 54 from a previous price target of $56 .

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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