New York State Common Retirement Fund Trims Stock Holdings in Genpact Limited (NYSE:G)

New York State Common Retirement Fund lowered its stake in shares of Genpact Limited (NYSE:G - Free Report) by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,689 shares of the business services provider's stock after selling 93,854 shares during the quarter. New York State Common Retirement Fund owned about 0.31% of Genpact worth $22,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Genpact by 160.8% during the 2nd quarter. CWM LLC now owns 952 shares of the business services provider's stock valued at $31,000 after purchasing an additional 587 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Genpact by 4,717.8% during the second quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider's stock worth $70,000 after acquiring an additional 2,123 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Genpact by 54.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,797 shares of the business services provider's stock valued at $90,000 after purchasing an additional 984 shares during the last quarter. GAMMA Investing LLC boosted its stake in Genpact by 221.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider's stock worth $131,000 after purchasing an additional 2,293 shares in the last quarter. Finally, Covestor Ltd grew its position in Genpact by 132.8% during the 1st quarter. Covestor Ltd now owns 4,340 shares of the business services provider's stock worth $143,000 after purchasing an additional 2,476 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on G. BMO Capital Markets boosted their price target on Genpact from $38.00 to $42.00 and gave the company a "market perform" rating in a research note on Monday, August 12th. Robert W. Baird increased their price target on shares of Genpact from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Genpact from $35.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Jefferies Financial Group upped 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. Finally, TD Cowen raised their target price on shares of Genpact from $35.00 to $36.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.44.

Genpact Price Performance

Shares of NYSE:G traded up $0.31 during trading on Tuesday, reaching $39.09. The stock had a trading volume of 779,181 shares, compared to its average volume of 1,312,842. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 1.89. Genpact Limited has a 1-year low of $29.41 and a 1-year high of $39.95. The stock has a market cap of $6.96 billion, a PE ratio of 10.98, a PEG ratio of 1.61 and a beta of 1.13. The business has a fifty day moving average price of $38.83 and a 200-day moving average price of $35.28.

Genpact (NYSE:G - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Genpact had a net margin of 14.12% and a return on equity of 22.28%. On average, equities analysts forecast that Genpact Limited will post 2.85 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be issued a $0.1525 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, December 9th. Genpact's dividend payout ratio is currently 17.23%.

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.