iSAM Funds UK Ltd decreased its position in shares of Genpact Limited (NYSE:G - Free Report) by 49.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,404 shares of the business services provider's stock after selling 11,371 shares during the period. iSAM Funds UK Ltd's holdings in Genpact were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI grew its position in Genpact by 759.9% in the third quarter. National Bank of Canada FI now owns 87,141 shares of the business services provider's stock valued at $3,417,000 after acquiring an additional 77,007 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Genpact in the 3rd quarter valued at approximately $308,000. Stifel Financial Corp acquired a new stake in shares of Genpact in the 3rd quarter valued at approximately $1,197,000. Quantinno Capital Management LP grew its holdings in shares of Genpact by 61.1% during the 3rd quarter. Quantinno Capital Management LP now owns 171,825 shares of the business services provider's stock valued at $6,737,000 after purchasing an additional 65,169 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in Genpact during the 3rd quarter worth approximately $232,000. 96.03% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have commented on G. BMO Capital Markets increased their target price on Genpact from $38.00 to $42.00 and gave the company a "market perform" rating in a research report on Monday, August 12th. Jefferies Financial Group raised their price objective on shares of Genpact from $35.00 to $40.00 and gave the company a "hold" rating in a report on Monday, September 9th. Robert W. Baird lifted their target price on shares of Genpact from $44.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Needham & Company LLC upped their price target on shares of Genpact from $42.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, TD Cowen raised their price target on shares of Genpact from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Genpact has a consensus rating of "Hold" and a consensus price target of $42.33.
Read Our Latest Research Report on Genpact
Genpact Stock Down 0.2 %
Genpact stock traded down $0.10 during midday trading on Friday, reaching $45.16. The stock had a trading volume of 1,160,808 shares, compared to its average volume of 1,652,642. The company has a fifty day moving average price of $41.84 and a two-hundred day moving average price of $37.42. Genpact Limited has a 12 month low of $30.23 and a 12 month high of $47.98. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $7.96 billion, a P/E ratio of 12.41, a PEG ratio of 1.57 and a beta of 1.18.
Genpact Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be issued a dividend of $0.1525 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.61 annualized dividend and a yield of 1.35%. Genpact's payout ratio is 16.76%.
Insider Activity
In related news, CEO Balkrishan Kalra sold 9,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.40, for a total transaction of $417,600.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares in the company, valued at approximately $12,407,545.60. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company's stock.
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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