QRG Capital Management Inc. boosted its position in Genpact Limited (NYSE:G - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,583 shares of the business services provider's stock after acquiring an additional 7,690 shares during the period. QRG Capital Management Inc.'s holdings in Genpact were worth $3,762,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in G. Franklin Resources Inc. lifted its position in Genpact by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider's stock valued at $162,318,000 after acquiring an additional 252,674 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $148,142,000 after purchasing an additional 413,646 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Genpact by 192.8% during the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider's stock valued at $122,701,000 after buying an additional 2,060,595 shares during the last quarter. Tandem Investment Advisors Inc. grew its holdings in Genpact by 390.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider's stock worth $91,480,000 after buying an additional 1,695,706 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Genpact by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,326,474 shares of the business services provider's stock valued at $56,972,000 after buying an additional 4,453 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.
Insider Activity
In related news, 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 transaction, the senior vice president now directly owns 151,182 shares of the company's stock, valued at approximately $6,475,125.06. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Balkrishan Kalra sold 13,600 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $44.60, for a total value of $606,560.00. Following the completion of the sale, the chief executive officer now directly owns 267,404 shares of the company's stock, valued at approximately $11,926,218.40. This represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on G shares. Mizuho lifted their price objective on shares of Genpact from $45.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Robert W. Baird boosted their price target on shares of Genpact from $44.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Jefferies Financial Group upgraded shares of Genpact from a "hold" rating to a "buy" rating and increased their price objective 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 boosted their target price for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Finally, Needham & Company LLC upped their target price on 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.44.
View Our Latest Stock Report on Genpact
Genpact Stock Performance
NYSE G traded down $0.26 during trading on Wednesday, hitting $52.01. 1,300,415 shares of the company's stock traded hands, compared to its average volume of 1,546,219. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.84 and a beta of 1.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16. The business has a 50 day moving average of $48.39 and a 200-day moving average of $43.66. Genpact Limited has a 12-month low of $30.23 and a 12-month high of $56.76.
Genpact (NYSE:G - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. As a group, equities research analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current fiscal year.
Genpact Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. This is a boost from Genpact's previous quarterly dividend of $0.15. Genpact's dividend payout ratio (DPR) is presently 23.94%.
About Genpact
(
Free Report)
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.
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