Essex Investment Management Co. LLC trimmed its holdings in shares of Genpact Limited (NYSE:G) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,626 shares of the business services provider’s stock after selling 413 shares during the period. Essex Investment Management Co. LLC’s holdings in Genpact were worth $233,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. First Hawaiian Bank purchased a new stake in Genpact in the 3rd quarter valued at $109,000. PNC Financial Services Group Inc. grew its holdings in Genpact by 108.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,887 shares of the business services provider’s stock valued at $120,000 after buying an additional 2,026 shares in the last quarter. Toronto Dominion Bank grew its holdings in Genpact by 17,596.8% in the 3rd quarter. Toronto Dominion Bank now owns 5,486 shares of the business services provider’s stock valued at $168,000 after buying an additional 5,455 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in Genpact by 19.5% in the 4th quarter. Sit Investment Associates Inc. now owns 5,675 shares of the business services provider’s stock valued at $153,000 after buying an additional 925 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Genpact in the 4th quarter valued at $164,000. 89.29% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on G. Wells Fargo & Co set a $32.00 price target on Genpact and gave the company a “hold” rating in a research note on Wednesday, November 7th. Zacks Investment Research lowered Genpact from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Bank of America raised Genpact from an “underperform” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, February 6th. JPMorgan Chase & Co. decreased their price target on Genpact from $33.00 to $32.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 24th. Finally, Morgan Stanley raised Genpact from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $28.50 to $33.00 in a research note on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.88.
G stock opened at $33.02 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.72 and a beta of 0.80. Genpact Limited has a 1 year low of $25.48 and a 1 year high of $33.99.
Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $835.34 million for the quarter, compared to analyst estimates of $810.98 million. Genpact had a return on equity of 23.63% and a net margin of 9.40%. Genpact’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. Equities analysts forecast that Genpact Limited will post 1.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 8th will be given a $0.085 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.34 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Genpact’s previous quarterly dividend of $0.08. Genpact’s dividend payout ratio (DPR) is currently 18.75%.
In other news, insider Private Ltd Gic sold 1,499,806 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $32.22, for a total value of $48,323,749.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.88% of the stock is owned by company insiders.
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Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; over-the counter services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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