Causeway Capital Management LLC Sells 617,154 Shares of Genpact Limited (NYSE:G)

Causeway Capital Management LLC lowered its position in Genpact Limited (NYSE:G - Free Report) by 35.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,136,018 shares of the business services provider's stock after selling 617,154 shares during the period. Genpact comprises about 1.1% of Causeway Capital Management LLC's portfolio, making the stock its 25th largest position. Causeway Capital Management LLC owned about 0.64% of Genpact worth $48,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of G. Norges Bank bought a new position in Genpact during the fourth quarter worth about $90,516,000. JPMorgan Chase & Co. increased its holdings in shares of Genpact by 192.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider's stock worth $122,701,000 after buying an additional 2,060,595 shares during the last quarter. Tandem Investment Advisors Inc. raised its position in shares of Genpact by 390.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider's stock valued at $91,480,000 after buying an additional 1,695,706 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Genpact by 18.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider's stock worth $423,205,000 after acquiring an additional 1,511,790 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Genpact by 12.6% in the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider's stock worth $148,142,000 after acquiring an additional 413,646 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Insider Activity

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the sale, the chief executive officer now directly owns 310,246 shares of the company's stock, valued at $15,167,926.94. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.80% of the company's stock.

Genpact Stock Down 0.4 %

Shares of NYSE:G traded down $0.17 during trading on Friday, hitting $47.56. The stock had a trading volume of 903,667 shares, compared to its average volume of 1,346,921. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. Genpact Limited has a 12 month low of $30.23 and a 12 month high of $56.76. The company has a market capitalization of $8.35 billion, a PE ratio of 16.75, a PEG ratio of 1.84 and a beta of 1.06. The firm's fifty day moving average is $50.66 and its 200 day moving average is $45.98.

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

Genpact Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Tuesday, March 11th. This is an increase from Genpact's previous quarterly dividend of $0.15. Genpact's payout ratio is 23.94%.

Analyst Upgrades and Downgrades

G has been the subject of several research analyst reports. Jefferies Financial Group raised Genpact from a "hold" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. TD Cowen raised shares of Genpact from a "hold" rating to a "buy" rating and lifted their price target for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Needham & Company LLC upped their price target on shares of Genpact from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Mizuho boosted their target price on Genpact from $45.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Genpact currently has a consensus rating of "Hold" and an average target price of $48.44.

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.