Grandeur Peak Global Advisors buys $9,331,146 stake in Syntel (SYNT)

Syntel (SYNT) : Grandeur Peak Global Advisors scooped up 3,025 additional shares in Syntel during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 204,900 shares of Syntel which is valued at $9,331,146.Syntel makes up approximately 1.90% of Grandeur Peak Global Advisors’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in SYNT by selling 6,833 shares or 47.23% in the most recent quarter. The Hedge Fund company now holds 7,636 shares of SYNT which is valued at $347,743.Renaissance Technologies reduced its stake in SYNT by selling 102,890 shares or 13.07% in the most recent quarter. The Hedge Fund company now holds 684,300 shares of SYNT which is valued at $31,163,022. Syntel makes up approx 0.06% of Renaissance Technologies’s portfolio.Blackrock Fund Advisors boosted its stake in SYNT in the latest quarter, The investment management firm added 20,048 additional shares and now holds a total of 775,488 shares of Syntel which is valued at $35,315,724. Syntel makes up approx 0.01% of Blackrock Fund Advisors’s portfolio.Teacher Retirement System Of Texas reduced its stake in SYNT by selling 7,227 shares or 60.68% in the most recent quarter. The Hedge Fund company now holds 4,684 shares of SYNT which is valued at $213,731.

Syntel opened for trading at $42.49 and hit $43.39 on the upside on Wednesday, eventually ending the session at $42.52, with a gain of 0.21% or 0.09 points. The heightened volatility saw the trading volume jump to 342,622 shares. Company has a market cap of $3,572 M.

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. 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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