Genpact Limited (NYSE:G) Stake Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in Genpact Limited (NYSE:G) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 291,731 shares of the business services provider’s stock after selling 2,472 shares during the quarter. Russell Investments Group Ltd.’s holdings in Genpact were worth $12,530,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Genpact in the 4th quarter worth approximately $90,516,000. JPMorgan Chase & Co. grew its stake in shares of Genpact by 192.8% in the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock worth $122,701,000 after purchasing an additional 2,060,595 shares in the last quarter. Tandem Investment Advisors Inc. increased its holdings in shares of 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 purchasing an additional 1,695,706 shares during the period. Victory Capital Management Inc. raised its stake in shares of Genpact by 18.1% during the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after purchasing an additional 1,511,790 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

G has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Genpact from a “hold” rating to a “buy” rating and raised their target price for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Mizuho increased their price target on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC boosted their price objective on Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, TD Cowen raised Genpact from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $60.00 in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Genpact currently has an average rating of “Hold” and an average target price of $48.44.

Insider Activity

In related news, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $48.89, for a total transaction of $664,904.00. Following the transaction, the chief executive officer now directly owns 310,246 shares of the company’s stock, valued at approximately $15,167,926.94. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Genpact Trading Down 3.0 %

Shares of NYSE G opened at $46.68 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. Genpact Limited has a 12 month low of $30.23 and a 12 month high of $56.76. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.84 and a beta of 1.06. The business has a fifty day simple moving average of $51.04 and a 200-day simple moving average of $45.72.

Genpact (NYSE:G) last posted 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%. Sell-side analysts predict that Genpact Limited will post 3.21 EPS for the current year.

Genpact Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.46%. This is a boost from Genpact’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, March 11th. Genpact’s payout ratio is presently 23.94%.

Genpact 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.