Mint Tower Capital Management B.V. Takes $156,000 Position in Syntel, Inc. (SYNT)

Mint Tower Capital Management B.V. acquired a new stake in Syntel, Inc. (NASDAQ:SYNT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,800 shares of the information technology services provider’s stock, valued at approximately $156,000.

Several other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Syntel by 9.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 20,036 shares of the information technology services provider’s stock valued at $643,000 after purchasing an additional 1,711 shares during the period. Rhumbline Advisers boosted its stake in shares of Syntel by 10.3% in the second quarter. Rhumbline Advisers now owns 40,564 shares of the information technology services provider’s stock worth $1,302,000 after buying an additional 3,784 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Syntel in the third quarter worth about $224,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Syntel by 36.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,301 shares of the information technology services provider’s stock worth $780,000 after buying an additional 6,530 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Syntel by 11.5% in the second quarter. Swiss National Bank now owns 65,000 shares of the information technology services provider’s stock worth $2,086,000 after buying an additional 6,700 shares during the last quarter. 40.78% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Loop Capital downgraded Syntel from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. BidaskClub upgraded Syntel from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Barrington Research restated a “hold” rating on shares of Syntel in a research note on Monday, July 23rd. Cantor Fitzgerald restated a “hold” rating and issued a $41.00 target price on shares of Syntel in a research note on Monday, July 23rd. Finally, Zacks Investment Research downgraded Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $31.20.

Shares of SYNT stock opened at $40.99 on Friday. Syntel, Inc. has a 12-month low of $18.82 and a 12-month high of $41.06.

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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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Institutional Ownership by Quarter for Syntel (NASDAQ:SYNT)

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