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Verition Fund Management LLC Has $1.03 Million Stock Holdings in Genpact Limited (NYSE:G)

Genpact logo with Business Services background

Verition Fund Management LLC boosted its holdings in Genpact Limited (NYSE:G - Free Report) by 139.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,268 shares of the business services provider's stock after purchasing an additional 15,285 shares during the period. Verition Fund Management LLC's holdings in Genpact were worth $1,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Genpact by 34.2% in 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 in the last quarter. Vulcan Value Partners LLC increased its holdings in shares of Genpact by 22.2% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider's stock valued at $50,456,000 after acquiring an additional 284,842 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Genpact by 8.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,512,259 shares of the business services provider's stock valued at $48,680,000 after acquiring an additional 122,993 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Genpact by 130.3% during the second quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider's stock worth $37,465,000 after purchasing an additional 658,560 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Genpact in the third quarter worth $19,779,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Stock Down 0.4 %

Shares of G traded down $0.18 during mid-day trading on Monday, hitting $44.83. 1,635,858 shares of the company's stock were exchanged, compared to its average volume of 1,347,560. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a twelve month low of $30.23 and a twelve month high of $47.98. The firm has a fifty day moving average of $41.95 and a two-hundred day moving average of $37.49. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.56 and a beta of 1.17.

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 dividend of $0.1525 per share. The ex-dividend date is Monday, December 9th. This represents a $0.61 annualized dividend and a yield of 1.36%. Genpact's dividend payout ratio (DPR) is presently 16.76%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on G shares. BMO Capital Markets boosted their target price on shares of Genpact from $38.00 to $42.00 and gave the company a "market perform" rating in a research note on Monday, August 12th. Needham & Company LLC increased their price objective on Genpact from $42.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Robert W. Baird lifted their target price on Genpact from $44.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their price target on Genpact from $35.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Finally, TD Cowen lifted their price objective on shares of Genpact from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $42.33.

Get Our Latest Stock Analysis on G

Insider Buying and Selling at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of Genpact stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.40, for a total value 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. The trade was a 3.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.80% of the company's stock.

About Genpact

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Genpact (NYSE:G)

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