First Mercantile Trust Co. increased its holdings in Genpact Limited (NYSE:G) by 124.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,661 shares of the business services provider’s stock after acquiring an additional 5,915 shares during the quarter. First Mercantile Trust Co.’s holdings in Genpact were worth $413,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in G. Nuveen Asset Management LLC increased its holdings in shares of Genpact by 9,006.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,951,155 shares of the business services provider’s stock valued at $74,320,000 after acquiring an additional 1,929,730 shares during the period. BlackRock Inc. increased its stake in Genpact by 11.3% in the 2nd quarter. BlackRock Inc. now owns 10,568,253 shares of the business services provider’s stock valued at $402,546,000 after buying an additional 1,071,669 shares during the period. Vanguard Group Inc. increased its stake in Genpact by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,541,672 shares of the business services provider’s stock valued at $553,893,000 after buying an additional 869,051 shares during the period. Wells Fargo & Company MN increased its stake in Genpact by 37.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,337,257 shares of the business services provider’s stock valued at $89,026,000 after buying an additional 636,974 shares during the period. Finally, Marshall Wace LLP increased its stake in Genpact by 33.5% in the 2nd quarter. Marshall Wace LLP now owns 1,689,255 shares of the business services provider’s stock valued at $64,344,000 after buying an additional 424,264 shares during the period. 94.98% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Balkrishan Kalra sold 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $40.97, for a total value of $409,700.00. Following the sale, the senior vice president now directly owns 164,016 shares in the company, valued at approximately $6,719,735.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bain Capital Investors Llc sold 10,621,804 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $40.51, for a total transaction of $430,289,280.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,580,720 shares of company stock worth $509,578,468. Corporate insiders own 1.86% of the company’s stock.
NYSE:G opened at $39.36 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.78. Genpact Limited has a fifty-two week low of $25.48 and a fifty-two week high of $44.55. The stock has a market cap of $7.55 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.10 and a beta of 0.79. The firm’s fifty day simple moving average is $38.71 and its 200-day simple moving average is $38.42.
Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. Genpact had a net margin of 8.77% and a return on equity of 21.87%. The business had revenue of $888.80 million for the quarter, compared to analysts’ expectations of $884.91 million. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts anticipate that Genpact Limited will post 1.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.085 per share. The ex-dividend date is Friday, December 6th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.86%. Genpact’s dividend payout ratio (DPR) is presently 21.25%.
Several brokerages have issued reports on G. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Genpact in a research note on Friday. Deutsche Bank boosted their price objective on shares of Genpact from $36.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Cantor Fitzgerald boosted their price objective on shares of Genpact from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Zacks Investment Research raised shares of Genpact from a “sell” rating to a “hold” rating and set a $43.00 price objective on the stock in a research note on Thursday, September 12th. Finally, Bank of America boosted their price objective on shares of Genpact from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Genpact has a consensus rating of “Hold” and an average price target of $40.18.
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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