State Street Corp Sells 45,047 Shares of Genpact Limited (NYSE:G)

State Street Corp cut its position in shares of Genpact Limited (NYSE:G - Free Report) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,647,451 shares of the business services provider's stock after selling 45,047 shares during the period. State Street Corp owned 2.61% of Genpact worth $182,227,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Genpact by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider's stock worth $107,065,000 after purchasing an additional 847,249 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Genpact by 130.3% during the 2nd quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider's stock worth $37,465,000 after buying an additional 658,560 shares during the period. Los Angeles Capital Management LLC acquired a new position in Genpact in the 3rd quarter valued at about $19,779,000. Tandem Investment Advisors Inc. bought a new position in Genpact in the 3rd quarter valued at about $17,025,000. Finally, Vulcan Value Partners LLC lifted its position in Genpact by 22.2% during the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider's stock worth $50,456,000 after acquiring an additional 284,842 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Genpact

In other news, CEO Balkrishan Kalra sold 9,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.40, for a total transaction of $417,600.00. Following the transaction, the chief executive officer now directly owns 267,404 shares of the company's stock, valued at $12,407,545.60. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company's stock.

Genpact Trading Down 0.1 %

Shares of G stock traded down $0.06 during mid-day trading on Friday, hitting $44.67. The company's stock had a trading volume of 913,785 shares, compared to its average volume of 1,348,975. The company has a market cap of $7.88 billion, a PE ratio of 12.27, a P/E/G ratio of 1.56 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 company's fifty day simple moving average is $42.38 and its 200-day simple moving average is $37.75. Genpact Limited has a 52 week low of $30.23 and a 52 week high of $47.98.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 yield of 1.37%. The ex-dividend date of this dividend is Monday, December 9th. Genpact's payout ratio is 16.76%.

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.