Hsbc Holdings PLC raised its position in shares of Syntel, Inc. (NASDAQ:SYNT) by 158.4% in the third quarter, HoldingsChannel.com reports. The firm owned 89,607 shares of the information technology services provider’s stock after purchasing an additional 54,923 shares during the quarter. Hsbc Holdings PLC’s holdings in Syntel were worth $3,672,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in SYNT. JPMorgan Chase & Co. increased its position in Syntel by 6,791.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,319,390 shares of the information technology services provider’s stock valued at $54,069,000 after purchasing an additional 1,300,244 shares during the period. FIL Ltd lifted its holdings in shares of Syntel by 583.5% in the 3rd quarter. FIL Ltd now owns 1,430,162 shares of the information technology services provider’s stock worth $58,608,000 after purchasing an additional 1,220,924 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of Syntel in the 3rd quarter worth $24,031,000. Water Island Capital LLC bought a new position in shares of Syntel in the 3rd quarter worth $23,580,000. Finally, BlackRock Inc. lifted its holdings in shares of Syntel by 22.8% in the 2nd quarter. BlackRock Inc. now owns 2,904,304 shares of the information technology services provider’s stock worth $93,201,000 after purchasing an additional 539,029 shares in the last quarter. 40.78% of the stock is owned by institutional investors and hedge funds.
Get Syntel alerts: Shares of NASDAQ:SYNT opened at $40.99 on Monday. Syntel, Inc. has a 1-year low of $18.82 and a 1-year high of $41.06.
A number of equities analysts recently issued reports on the company. BidaskClub upgraded Syntel from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research cut Syntel from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Syntel has an average rating of “Hold” and a consensus target price of $31.20.
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Syntel Company Profile
Syntel, Inc provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom segments. It provides end-to-end, integrated application, and infrastructure management services; develops software applications; and offers legacy modernization services, such as software analysis, language conversion, reverse engineering, database migration, code optimization, cloud onboarding and migration, ecosystem migration, testing, and management.
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