Syntel (SYNT) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $0.70 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.63. The company posted revenue of $246.00 million in the period, 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. Maxim Group Downgraded Syntel on Jul 15, 2016 to ” Hold”, Price Target of the shares are set at $48.
Syntel opened for trading at $45.76 and hit $46.23 on the upside on Wednesday, eventually ending the session at $46.09, with a gain of 1.23% or 0.56 points. The heightened volatility saw the trading volume jump to 2,42,281 shares. Company has a market cap of $3,869 M.
In a different news, on May 24, 2016, Prashant Ranade (Executive Vice Chairman) sold 15,000 shares at $43.90 per share price. According to the SEC, on May 2, 2016, Nitin Rakesh (CEO and President) sold 10,000 shares at $42.77 per share price. On Mar 7, 2016, Murlidhar Reddy (Senior Vice President) sold 1,600 shares at $46.68 per share price, according to the Form-4 filing with the securities and exchange commission.
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.