Versor Investments LP reduced its position in shares of Genpact Limited (NYSE:G - Free Report) by 60.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the business services provider's stock after selling 9,082 shares during the period. Versor Investments LP's holdings in Genpact were worth $258,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its holdings in Genpact by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider's stock worth $162,318,000 after acquiring an additional 252,674 shares in the last quarter. Geode Capital Management LLC grew its stake in Genpact by 12.6% in the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider's stock worth $148,142,000 after purchasing an additional 413,646 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Genpact by 192.8% in the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider's stock valued at $122,701,000 after buying an additional 2,060,595 shares during the last quarter. Tandem Investment Advisors Inc. raised its stake in Genpact by 390.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider's stock valued at $91,480,000 after buying an additional 1,695,706 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Genpact by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,326,474 shares of the business services provider's stock worth $56,972,000 after buying an additional 4,453 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.
Genpact Price Performance
Shares of NYSE G traded up $0.65 during midday trading on Friday, reaching $51.66. The company's stock had a trading volume of 1,026,628 shares, compared to its average volume of 1,524,703. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.84 and a beta of 1.20. Genpact Limited has a one year low of $30.23 and a one year high of $56.76. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $48.73 and a 200 day moving average price of $43.77.
Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. On average, equities research analysts expect that Genpact Limited will post 3.21 EPS for the current year.
Genpact Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Genpact's previous quarterly dividend of $0.15. Genpact's dividend payout ratio is 23.94%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on G. TD Cowen raised shares of Genpact from a "hold" rating to a "buy" rating and boosted their price objective for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Robert W. Baird raised 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. Jefferies Financial Group upgraded Genpact from a "hold" rating to a "buy" rating and upped their price objective for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. Mizuho raised their target price on Genpact from $45.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Needham & Company LLC upped their price target on shares of Genpact from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $48.44.
Read Our Latest Research Report on G
Insiders Place Their Bets
In related news, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the sale, the senior vice president now directly owns 151,182 shares in the company, valued at approximately $6,475,125.06. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Balkrishan Kalra sold 13,600 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $44.60, for a total value of $606,560.00. Following the completion of the sale, the chief executive officer now directly owns 267,404 shares of the company's stock, valued at approximately $11,926,218.40. The trade was a 4.84 % decrease in their position. The disclosure for this sale can be found here. 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.
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