Arizona State Retirement System Acquires New Shares in Genpact Limited (NYSE:G)

Arizona State Retirement System acquired a new position in shares of Genpact Limited (NYSE:G - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 49,113 shares of the business services provider's stock, valued at approximately $2,109,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in G. Proficio Capital Partners LLC acquired a new stake in Genpact in the 4th quarter worth approximately $983,000. Assetmark Inc. raised its holdings in shares of Genpact by 10.0% in the fourth quarter. Assetmark Inc. now owns 5,927 shares of the business services provider's stock worth $255,000 after buying an additional 540 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of Genpact by 38.8% during the fourth quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider's stock worth $69,000 after buying an additional 453 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Genpact by 18.1% during the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider's stock valued at $423,205,000 after buying an additional 1,511,790 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Genpact by 416.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider's stock valued at $41,000 after acquiring an additional 783 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Insider Buying and Selling

In other news, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $48.89, for a total value of $664,904.00. Following the completion of the sale, the chief executive officer now directly owns 310,246 shares in the company, valued at $15,167,926.94. This represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Piyush Mehta sold 12,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the transaction, the senior vice president now directly owns 151,182 shares in the company, valued at approximately $6,475,125.06. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

Several research firms have weighed in on G. Jefferies Financial Group upgraded Genpact from a "hold" rating to a "buy" rating and boosted their price target for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. TD Cowen upgraded Genpact from a "hold" rating to a "buy" rating and upped their target price for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Mizuho raised their price target on shares of Genpact from $45.00 to $55.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Needham & Company LLC upped their price objective on shares of Genpact from $55.00 to $65.00 and gave the company a "buy" rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $48.44.

Genpact Price Performance

Shares of NYSE:G traded up $0.77 during trading on Friday, reaching $50.12. 927,654 shares of the company's stock traded hands, compared to its average volume of 1,511,066. The firm has a market cap of $8.80 billion, a PE ratio of 17.65, a P/E/G ratio of 1.84 and a beta of 1.16. Genpact Limited has a fifty-two week low of $30.23 and a fifty-two week high of $56.76. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $49.44 and a 200-day simple moving average of $44.16.

Genpact (NYSE:G - Get Free Report) last announced its earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. As a group, analysts predict that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Genpact's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. Genpact's dividend payout ratio (DPR) is currently 23.94%.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.