SP Asset Management LLC Purchases New Position in Genpact Limited $G

SP Asset Management LLC purchased a new stake in shares of Genpact Limited (NYSE:G) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,001 shares of the business services provider’s stock, valued at approximately $220,000.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Genpact by 20.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,111,340 shares of the business services provider’s stock valued at $207,129,000 after purchasing an additional 710,704 shares during the period. Alliancebernstein L.P. increased its holdings in Genpact by 4.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,045,542 shares of the business services provider’s stock valued at $153,434,000 after purchasing an additional 118,689 shares during the period. Nordea Investment Management AB increased its holdings in Genpact by 60.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,617,255 shares of the business services provider’s stock valued at $114,924,000 after purchasing an additional 983,774 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Genpact by 8.8% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,501,688 shares of the business services provider’s stock worth $110,099,000 after acquiring an additional 203,015 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Genpact by 109.8% during the 1st quarter. Ameriprise Financial Inc. now owns 1,615,220 shares of the business services provider’s stock worth $81,375,000 after acquiring an additional 845,393 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

G has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Genpact in a report on Thursday, July 17th. They set a “hold” rating and a $47.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Genpact in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on Genpact from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Needham & Company LLC upped their target price on Genpact from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Citigroup upgraded Genpact to a “hold” rating in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Genpact has an average rating of “Hold” and an average price target of $51.13.

Insider Activity at Genpact

In related news, CEO Balkrishan Kalra sold 55,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $43.36, for a total value of $2,384,800.00. Following the sale, the chief executive officer owned 295,246 shares in the company, valued at $12,801,866.56. This represents a 15.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Piyush Mehta sold 76,902 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $42.58, for a total value of $3,274,487.16. Following the completion of the transaction, the senior vice president directly owned 134,880 shares in the company, valued at $5,743,190.40. This trade represents a 36.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.07% of the company’s stock.

Genpact Stock Performance

Genpact stock opened at $38.84 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.77 billion, a P/E ratio of 12.90, a PEG ratio of 1.32 and a beta of 0.85. The stock’s 50 day moving average is $41.28 and its 200 day moving average is $43.40. Genpact Limited has a twelve month low of $37.49 and a twelve month high of $56.76.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, August 7th. The business services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.03. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Genpact had a return on equity of 22.15% and a net margin of 10.92%.The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. On average, equities research analysts predict that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. Genpact’s dividend payout ratio is presently 22.59%.

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.