State of New Jersey Common Pension Fund D Takes Position in Genpact Limited (NYSE:G)

State of New Jersey Common Pension Fund D bought a new stake in Genpact Limited (NYSE:G - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,268 shares of the business services provider's stock, valued at approximately $2,030,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SRH Advisors LLC bought a new stake in Genpact in the 4th quarter valued at approximately $26,000. Manchester Capital Management LLC acquired a new position in Genpact in the 4th quarter worth about $38,000. UMB Bank n.a. lifted its holdings in shares of Genpact by 55.7% during the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider's stock worth $52,000 after purchasing an additional 433 shares during the period. Venturi Wealth Management LLC raised its holdings in Genpact by 74.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider's stock worth $103,000 after purchasing an additional 1,121 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Genpact by 17.0% in the fourth quarter. Versant Capital Management Inc now owns 3,178 shares of the business services provider's stock worth $136,000 after purchasing an additional 461 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Genpact Stock Down 0.3 %

Shares of Genpact stock traded down $0.16 on Thursday, reaching $52.72. 1,186,857 shares of the company were exchanged, compared to its average volume of 1,539,467. The stock's 50 day moving average price is $47.57 and its 200-day moving average price is $43.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85. The company has a market cap of $9.30 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.20. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $56.76.

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Genpact (NYSE:G - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. As a group, equities analysts forecast that Genpact Limited will post 3.21 EPS for the current year.

Genpact Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $0.17 dividend. This is a boost from Genpact's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Tuesday, March 11th. Genpact's dividend payout ratio is presently 23.94%.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $44.60, for a total transaction of $606,560.00. Following the transaction, the chief executive officer now owns 267,404 shares of the company's stock, valued at approximately $11,926,218.40. This represents a 4.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Piyush Mehta sold 12,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the completion of the sale, the senior vice president now directly owns 151,182 shares of the company's stock, valued at approximately $6,475,125.06. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on G. Robert W. Baird lifted their price target on Genpact from $44.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. TD Cowen upgraded Genpact from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $45.00 to $60.00 in a research report on Friday, February 7th. Needham & Company LLC boosted their target price on Genpact from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Mizuho lifted their price objective on Genpact from $45.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, Jefferies Financial Group upgraded shares of Genpact from a "hold" rating to a "buy" rating and lifted their target price for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Genpact has a consensus rating of "Hold" and an average price target of $48.44.

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.