PDT Partners LLC Invests $830,000 in Genpact Limited (NYSE:G)

PDT Partners LLC purchased a new stake in shares of Genpact Limited (NYSE:G - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,165 shares of the business services provider's stock, valued at approximately $830,000.

A number of other hedge funds have also modified their holdings of G. Verition Fund Management LLC boosted its holdings in Genpact by 139.2% in the third quarter. Verition Fund Management LLC now owns 26,268 shares of the business services provider's stock valued at $1,030,000 after purchasing an additional 15,285 shares during the last quarter. Martingale Asset Management L P boosted its stake in shares of Genpact by 20.5% in the third quarter. Martingale Asset Management L P now owns 151,598 shares of the business services provider's stock worth $5,944,000 after buying an additional 25,774 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Genpact by 10.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 290,166 shares of the business services provider's stock worth $11,377,000 after acquiring an additional 28,068 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Genpact during the third quarter valued at approximately $4,365,000. Finally, Glenmede Trust Co. NA lifted its holdings in Genpact by 2.2% in the third quarter. Glenmede Trust Co. NA now owns 43,156 shares of the business services provider's stock valued at $1,692,000 after acquiring an additional 926 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Price Performance

Shares of NYSE:G traded down $0.64 during midday trading on Tuesday, hitting $45.65. The company's stock had a trading volume of 1,570,056 shares, compared to its average volume of 1,346,116. Genpact Limited has a 12-month low of $30.23 and a 12-month high of $47.98. The company has a market cap of $8.05 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.60 and a beta of 1.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.85. The business's 50 day simple moving average is $41.31 and its 200 day simple moving average is $37.10.

Genpact Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given 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 1.34%. Genpact's dividend payout ratio (DPR) is presently 16.76%.

Insider Activity at Genpact

In related news, CEO Balkrishan Kalra sold 9,000 shares of the firm's stock in a transaction dated 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 directly owns 267,404 shares of the company's stock, valued at approximately $12,407,545.60. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.80% of the company's stock.

Analyst Ratings Changes

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

About Genpact

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.