Geode Capital Management LLC Purchases 413,646 Shares of Genpact Limited (NYSE:G)

Geode Capital Management LLC raised its position in Genpact Limited (NYSE:G - Free Report) by 12.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,691,406 shares of the business services provider's stock after acquiring an additional 413,646 shares during the period. Geode Capital Management LLC owned approximately 2.07% of Genpact worth $148,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. grew its position in shares of Genpact by 3.4% in the third quarter. Advisors Asset Management Inc. now owns 6,885 shares of the business services provider's stock valued at $270,000 after purchasing an additional 226 shares during the last quarter. Lecap Asset Management Ltd. lifted its stake in Genpact by 2.1% in the 3rd quarter. Lecap Asset Management Ltd. now owns 18,059 shares of the business services provider's stock valued at $708,000 after buying an additional 364 shares in the last quarter. Suncoast Equity Management grew its holdings in Genpact by 3.1% during the 3rd quarter. Suncoast Equity Management now owns 12,600 shares of the business services provider's stock valued at $494,000 after buying an additional 375 shares during the last quarter. Sawyer & Company Inc increased its position in Genpact by 1.1% during the third quarter. Sawyer & Company Inc now owns 36,243 shares of the business services provider's stock worth $1,421,000 after buying an additional 400 shares in the last quarter. Finally, United Services Automobile Association increased its position in Genpact by 3.3% during the second quarter. United Services Automobile Association now owns 13,388 shares of the business services provider's stock worth $431,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Analysts Set New Price Targets

G has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Genpact from $35.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Robert W. Baird upped their price objective on Genpact from $44.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. TD Cowen increased their target price on Genpact from $40.00 to $45.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their price target on Genpact from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Monday, September 9th. Finally, Needham & Company LLC raised their price objective on Genpact from $42.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Genpact presently has an average rating of "Hold" and a consensus price target of $42.33.

Genpact Trading Down 0.9 %

Shares of NYSE:G traded down $0.39 during midday trading on Tuesday, reaching $43.25. The company had a trading volume of 1,065,250 shares, compared to its average volume of 1,350,950. The company has a fifty day simple moving average of $42.46 and a two-hundred day simple moving average of $37.89. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.56 and a beta of 1.18. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $47.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.85.

Genpact Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.1525 per share. This represents a $0.61 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, December 9th. Genpact's dividend payout ratio (DPR) is currently 16.76%.

Insider Activity

In related news, CEO Balkrishan Kalra sold 13,600 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $44.60, for a total transaction of $606,560.00. Following the completion of the sale, the chief executive officer now directly owns 267,404 shares in the company, valued at approximately $11,926,218.40. This trade represents a 4.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 23,058 shares of company stock worth $1,044,715 over the last quarter. Corporate insiders own 2.80% of the company's stock.

Genpact Company Profile

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.