JPMorgan Chase & Co. Buys 2,060,595 Shares of Genpact Limited (NYSE:G)

JPMorgan Chase & Co. grew its holdings in shares of Genpact Limited (NYSE:G - Free Report) by 192.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,129,341 shares of the business services provider's stock after acquiring an additional 2,060,595 shares during the period. JPMorgan Chase & Co. owned about 1.77% of Genpact worth $122,701,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. DGS Capital Management LLC increased its holdings in Genpact by 69.7% in the third quarter. DGS Capital Management LLC now owns 45,800 shares of the business services provider's stock valued at $1,796,000 after buying an additional 18,811 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Genpact during the 3rd quarter valued at approximately $1,323,000. Franklin Resources Inc. lifted its stake in Genpact by 6.5% during the third quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider's stock worth $162,318,000 after purchasing an additional 252,674 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Genpact by 52.9% in the third quarter. Sanctuary Advisors LLC now owns 16,573 shares of the business services provider's stock worth $650,000 after purchasing an additional 5,734 shares during the period. Finally, Geode Capital Management LLC increased its stake in Genpact by 12.6% during 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 during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Genpact Price Performance

Shares of NYSE G traded up $0.04 during trading on Thursday, hitting $42.99. The company had a trading volume of 800,904 shares, compared to its average volume of 1,354,838. Genpact Limited has a 52 week low of $30.23 and a 52 week high of $47.98. The business's 50-day moving average is $43.49 and its 200 day moving average is $38.74. The company has a market cap of $7.58 billion, a P/E ratio of 11.81, a PEG ratio of 1.56 and a beta of 1.17. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 9th were given a $0.1525 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Monday, December 9th. Genpact's dividend payout ratio (DPR) is currently 16.76%.

Insider Activity

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 23,058 shares of company stock worth $1,044,715 over the last 90 days. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Jefferies Financial Group upped their target price on Genpact from $35.00 to $40.00 and gave the company a "hold" rating in a report on Monday, September 9th. Robert W. Baird upped their price objective on Genpact from $44.00 to $48.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. TD Cowen raised their target price on Genpact from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Genpact from $35.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Finally, Needham & Company LLC lifted their price objective 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. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Genpact presently has an average rating of "Hold" and a consensus price target of $42.33.

Genpact 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.