Steinberg Asset Management LLC Sells 470 Shares of Genpact Limited (NYSE:G)

Steinberg Asset Management LLC lowered its position in shares of Genpact Limited (NYSE:G) by 2.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,383 shares of the business services provider’s stock after selling 470 shares during the period. Genpact comprises about 0.6% of Steinberg Asset Management LLC’s portfolio, making the stock its 26th biggest position. Steinberg Asset Management LLC’s holdings in Genpact were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Coppell Advisory Solutions LLC boosted its position in shares of Genpact by 529.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 503 shares in the last quarter. SRH Advisors LLC bought a new position in Genpact in the fourth quarter worth approximately $26,000. Atlas Capital Advisors Inc. boosted its holdings in Genpact by 55.8% in the fourth quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider’s stock worth $26,000 after acquiring an additional 216 shares in the last quarter. GeoWealth Management LLC boosted its holdings in Genpact by 199.0% in the fourth quarter. GeoWealth Management LLC now owns 876 shares of the business services provider’s stock worth $38,000 after acquiring an additional 583 shares in the last quarter. Finally, Manchester Capital Management LLC bought a new position in Genpact in the fourth quarter worth approximately $38,000. Institutional investors own 96.03% of the company’s stock.

Genpact Stock Up 0.9%

G stock opened at $44.28 on Friday. The stock’s fifty day simple moving average is $48.02 and its two-hundred day simple moving average is $47.13. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a 1-year low of $30.38 and a 1-year high of $56.76. The stock has a market cap of $7.78 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.84 and a beta of 1.02.

Genpact (NYSE:G) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts expect that Genpact Limited will post 3.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on G. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. TD Cowen raised Genpact from a “hold” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Mizuho increased their price objective on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC lowered their price objective on Genpact from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Robert W. Baird lowered their price objective on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.71.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the transaction, the chief executive officer now directly owns 310,246 shares in the company, valued at $15,167,926.94. This represents a 4.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas C. Gangestad bought 2,000 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $87,940. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is currently owned by insiders.

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.