Raymond James & Associates Sells 42,853 Shares of Genpact Limited (NYSE:G)

Raymond James & Associates lowered its stake in shares of Genpact Limited (NYSE:G - Free Report) by 23.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,295 shares of the business services provider's stock after selling 42,853 shares during the quarter. Raymond James & Associates owned about 0.08% of Genpact worth $5,344,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in G. State of Michigan Retirement System boosted its position in Genpact by 1.2% during the first quarter. State of Michigan Retirement System now owns 40,584 shares of the business services provider's stock worth $1,337,000 after purchasing an additional 500 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Genpact by 8.9% in the first quarter. Sequoia Financial Advisors LLC now owns 20,730 shares of the business services provider's stock valued at $683,000 after acquiring an additional 1,686 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Genpact in the first quarter valued at approximately $703,000. PDS Planning Inc boosted its position in shares of Genpact by 22.1% in the first quarter. PDS Planning Inc now owns 7,658 shares of the business services provider's stock valued at $252,000 after acquiring an additional 1,387 shares during the period. Finally, Moloney Securities Asset Management LLC boosted its position in shares of Genpact by 2.0% in the first quarter. Moloney Securities Asset Management LLC now owns 27,236 shares of the business services provider's stock valued at $897,000 after acquiring an additional 529 shares during the period. Institutional investors own 96.03% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on G. TD Cowen increased their price objective on Genpact from $35.00 to $36.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Jefferies Financial Group increased their price objective on Genpact from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Monday, September 9th. Needham & Company LLC increased their price objective on Genpact from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, August 9th. BMO Capital Markets increased their price objective on Genpact from $38.00 to $42.00 and gave the company a "market perform" rating in a research report on Monday, August 12th. Finally, Robert W. Baird upped their target price on Genpact from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $39.44.

Genpact Stock Performance

Shares of NYSE G traded up $0.17 during trading hours on Friday, reaching $38.34. The stock had a trading volume of 988,697 shares, compared to its average volume of 1,316,506. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.89 and a quick ratio of 1.89. The business's fifty day moving average is $38.84 and its two-hundred day moving average is $35.16. Genpact Limited has a twelve month low of $29.41 and a twelve month high of $39.95. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.61 and a beta of 1.13.

Genpact (NYSE:G - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, research analysts expect that Genpact Limited will post 2.85 EPS for the current year.

Genpact Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be paid a $0.1525 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.59%. Genpact's dividend payout ratio (DPR) is presently 17.23%.

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.