Short Interest to Follow: Syntel Incorporated (NASDAQ:SYNT)’s Trend Unknown, Especially After Increased Shorts

November 17, 2016 - By Darrin Black   ·   0 Comments

Short Interest to Follow: Syntel Incorporated (NASDAQ:SYNT)’s Trend Unknown, Especially After Increased Shorts

The stock of Syntel Incorporated (NASDAQ:SYNT) registered an increase of 57.08% in short interest. SYNT’s total short interest was 2.04M shares in November as published by FINRA. Its up 57.08% from 1.30M shares, reported previously. With 581,500 shares average volume, it will take short sellers 4 days to cover their SYNT’s short positions. The short interest to Syntel Incorporated’s float is 3.69%. The stock decreased 3.67% or $0.74 during the last trading session, hitting $19.41. Syntel, Inc. (NASDAQ:SYNT) has declined 61.06% since April 15, 2016 and is downtrending. It has underperformed by 65.69% the S&P500.

Syntel, Inc. is a global provider of digital transformation, information technology and knowledge process outsourcing services. The company has a market cap of $1.62 billion. The Firm operates through five divisions: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry. It currently has negative earnings.

Insitutional Activity: The institutional sentiment increased to 1.1 in 2016 Q2. Its up 0.22, from 0.88 in 2016Q1. The ratio is positive, as 27 funds sold all Syntel, Inc. shares owned while 55 reduced positions. 24 funds bought stakes while 66 increased positions. They now own 28.31 million shares or 0.38% less from 28.42 million shares in 2016Q1.
Palo Cap accumulated 9,318 shares or 0.14% of the stock. Cubist Systematic Strategies Limited Liability reported 6,240 shares or 0.02% of all its holdings. The California-based Denali Advsrs Ltd Co has invested 0% in Syntel, Inc. (NASDAQ:SYNT). Bnp Paribas Arbitrage reported 1,968 shares or 0% of all its holdings. Renaissance Technology Ltd Liability Com last reported 0.06% of its portfolio in the stock. The Pennsylvania-based Sei Invests has invested 0% in Syntel, Inc. (NASDAQ:SYNT). Great West Life Assurance Can holds 3,782 shares or 0% of its portfolio. Calvert Mngmt holds 62,341 shares or 0.15% of its portfolio. Aperio Grp Inc Limited last reported 0% of its portfolio in the stock. Legal General Grp Public Ltd Company has 8,321 shares for 0% of their US portfolio. Loomis Sayles & Ltd Partnership holds 139 shares or 0% of its portfolio. Envestnet Asset Inc holds 0% or 9,355 shares in its portfolio. Parametric Portfolio Associate Ltd reported 25,757 shares or 0% of all its holdings. Barclays Public Llc last reported 7 shares in the company. Teachers Inc last reported 0% of its portfolio in the stock.

Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 24 sales for $1.84 million net activity. The insider Rakesh Nitin sold 1,750 shares worth $73,511. Jain Anil also sold $57,697 worth of Syntel, Inc. (NASDAQ:SYNT) on Monday, August 29. 1,375 shares were sold by Garg Sanjay, worth $57,758. On Tuesday, August 30 Reddy Murlidhar sold $16,408 worth of the stock or 356 shares. 943 Syntel, Inc. (NASDAQ:SYNT) shares with value of $43,183 were sold by Salelkar Avinash. 401 shares were sold by Raj V S, worth $18,305. Another trade for 15,000 shares valued at $658,433 was sold by Ranade Prashant.

Syntel, Inc. (NASDAQ:SYNT) Ratings Coverage

Out of 9 analysts covering Syntel Inc. (NASDAQ:SYNT), 1 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 11% are positive. Syntel Inc. has been the topic of 18 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, September 10 by Suntrust Robinson. On Monday, October 24 the stock rating was downgraded by Suntrust Robinson to “Hold”. The rating was maintained by Robert W. Baird on Wednesday, October 5 with “Neutral”. The firm earned “Hold” rating on Friday, July 15 by Maxim Group. Maxim Group upgraded it to “Buy” rating and $58 target price in Wednesday, February 3 report. Maxim Group maintained the stock with “Hold” rating in Tuesday, October 4 report. The rating was downgraded by Wells Fargo on Friday, February 19 to “Market Perform”. The firm has “Mkt Perform” rating by Barrington Research given on Thursday, September 22. SunTrust downgraded the shares of SYNT in a report on Monday, October 24 to “Hold” rating. As per Tuesday, September 13, the company rating was maintained by Robert W. Baird.

SYNT Company Profile

Syntel, Inc. (Syntel), incorporated on April 15, 1980, is a global well-known provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Firm operates through five divisions: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom. The Firm offers its services and products under the Syntel brand.

More news for Syntel, Inc. (NASDAQ:SYNT) were recently published by: Streetinsider.com, which released: “Syntel, Inc. (SYNT) CEO Rakesh Resigns; Interim CEO Named” on November 04, 2016. Streetinsider.com‘s article titled: “Syntel, Inc. (SYNT) Tops Q3 EPS by 1c, Revenue Comes in Light” and published on October 20, 2016 is yet another important article.

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By Darrin Black


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