Renaissance Technologies LLC Takes Position in Genpact Limited (G)

Renaissance Technologies LLC purchased a new stake in shares of Genpact Limited (NYSE:G) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 135,600 shares of the business services provider’s stock, valued at approximately $4,304,000. Renaissance Technologies LLC owned about 0.07% of Genpact as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in G. The Manufacturers Life Insurance Company raised its position in shares of Genpact by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,508 shares of the business services provider’s stock valued at $181,000 after purchasing an additional 455 shares during the last quarter. Sit Investment Associates Inc. raised its position in shares of Genpact by 4.5% in the 4th quarter. Sit Investment Associates Inc. now owns 37,100 shares of the business services provider’s stock valued at $1,178,000 after purchasing an additional 1,590 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of Genpact by 7.1% in the 4th quarter. State of Wisconsin Investment Board now owns 31,327 shares of the business services provider’s stock valued at $994,000 after purchasing an additional 2,076 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Genpact by 13.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 18,726 shares of the business services provider’s stock valued at $594,000 after purchasing an additional 2,260 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Genpact by 22.9% in the 4th quarter. M&T Bank Corp now owns 14,914 shares of the business services provider’s stock valued at $473,000 after purchasing an additional 2,775 shares during the last quarter. 91.01% of the stock is owned by institutional investors and hedge funds.

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G has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Genpact from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Genpact in a research report on Tuesday, February 13th. BMO Capital Markets increased their price objective on shares of Genpact to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, February 13th. Citigroup decreased their price objective on shares of Genpact from $39.00 to $37.50 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Finally, JPMorgan Chase decreased their price objective on shares of Genpact from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Genpact currently has a consensus rating of “Buy” and a consensus target price of $34.65.

In other news, Director James C. Madden sold 4,270 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $30.92, for a total transaction of $132,028.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Arvinder Singh sold 22,690 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.95, for a total transaction of $770,325.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,113 shares of company stock worth $1,546,444. 1.41% of the stock is owned by corporate insiders.

Shares of NYSE:G opened at $32.62 on Thursday. Genpact Limited has a twelve month low of $23.80 and a twelve month high of $34.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market capitalization of $6,222.29, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60.

Genpact (NYSE:G) last issued its quarterly earnings results on Monday, February 12th. The business services provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Genpact had a net margin of 9.61% and a return on equity of 22.75%. The company had revenue of $734.41 million for the quarter, compared to the consensus estimate of $723.55 million. During the same quarter in the prior year, the company earned $0.43 EPS. Genpact’s quarterly revenue was up 7.7% on a year-over-year basis. analysts forecast that Genpact Limited will post 1.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Friday, March 9th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, March 8th. This is an increase from Genpact’s previous quarterly dividend of $0.06. Genpact’s dividend payout ratio is 20.13%.

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Genpact Company Profile

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.

Institutional Ownership by Quarter for Genpact (NYSE:G)

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