Global Endowment Management LP trimmed its holdings in Genpact Limited (NYSE:G) by 17.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 581,750 shares of the business services provider’s stock after selling 125,000 shares during the quarter. Genpact makes up approximately 2.7% of Global Endowment Management LP’s holdings, making the stock its 6th biggest holding. Global Endowment Management LP’s holdings in Genpact were worth $18,465,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. American International Group Inc. purchased a new position in Genpact in the fourth quarter worth approximately $114,000. Meeder Asset Management Inc. purchased a new position in Genpact in the third quarter worth approximately $128,000. Advisor Group Inc. grew its position in Genpact by 59.8% in the third quarter. Advisor Group Inc. now owns 5,017 shares of the business services provider’s stock worth $145,000 after acquiring an additional 1,878 shares during the period. The Manufacturers Life Insurance Company grew its position in Genpact by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,508 shares of the business services provider’s stock worth $181,000 after acquiring an additional 455 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Genpact in the second quarter worth approximately $210,000. Institutional investors own 94.18% of the company’s stock.
Several brokerages recently weighed in on G. Zacks Investment Research lowered Genpact from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Cantor Fitzgerald restated a “buy” rating and set a $36.00 price target on shares of Genpact in a research report on Tuesday, February 13th. BMO Capital Markets raised their price target on Genpact to $35.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. Robert W. Baird restated a “buy” rating and set a $38.00 price target on shares of Genpact in a research report on Friday, November 10th. Finally, Citigroup lowered their price target on Genpact from $39.00 to $37.50 and set a “buy” rating for the company in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $34.65.
In related news, insider Arvinder Singh sold 22,690 shares of Genpact stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.95, for a total value of $770,325.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Madden sold 4,270 shares of Genpact stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $30.92, for a total value of $132,028.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,934 shares of company stock valued at $5,346,881. 1.41% of the stock is currently owned by company insiders.
Genpact Limited (NYSE G) opened at $31.55 on Friday. Genpact Limited has a 52-week low of $23.34 and a 52-week high of $34.79. The company has a market capitalization of $6,066.28, a price-to-earnings ratio of 23.54, a PEG ratio of 2.03 and a beta of 0.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.65 and a current ratio of 1.65.
Genpact (NYSE:G) last released its earnings results on Monday, February 12th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. The firm had revenue of $734.41 million during the quarter, compared to analyst estimates of $723.55 million. Genpact had a return on equity of 23.53% and a net margin of 9.61%. Genpact’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. equities research analysts predict that Genpact Limited will post 1.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Friday, March 9th will be issued a $0.075 dividend. The ex-dividend date is Thursday, March 8th. This is a positive change from Genpact’s previous quarterly dividend of $0.06. This represents a $0.30 dividend on an annualized basis and a yield of 0.95%. Genpact’s dividend payout ratio (DPR) is 17.91%.
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Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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