New York State Common Retirement Fund decreased its stake in Genpact Limited (NYSE:G) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 841,445 shares of the business services provider’s stock after selling 3,600 shares during the quarter. New York State Common Retirement Fund owned about 0.44% of Genpact worth $35,484,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in G. OLD National Bancorp IN boosted its holdings in Genpact by 1.4% during the 3rd quarter. OLD National Bancorp IN now owns 36,775 shares of the business services provider’s stock valued at $1,425,000 after acquiring an additional 512 shares during the period. Tower Research Capital LLC TRC purchased a new position in Genpact during the 3rd quarter valued at $43,000. Great Lakes Advisors LLC boosted its holdings in Genpact by 3.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 223,956 shares of the business services provider’s stock valued at $8,678,000 after acquiring an additional 6,575 shares during the period. California State Teachers Retirement System boosted its holdings in Genpact by 7.8% during the 3rd quarter. California State Teachers Retirement System now owns 280,157 shares of the business services provider’s stock valued at $10,856,000 after acquiring an additional 20,288 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Genpact by 11.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 361,150 shares of the business services provider’s stock valued at $13,966,000 after acquiring an additional 38,509 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.
G has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on Genpact from $47.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Cantor Fitzgerald boosted their price objective on Genpact from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Cowen boosted their price objective on Genpact from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Robert W. Baird boosted their price objective on Genpact from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Genpact in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.14.
Shares of G stock opened at $43.77 on Friday. Genpact Limited has a twelve month low of $32.74 and a twelve month high of $45.20. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.88 and a beta of 0.83. The stock has a fifty day simple moving average of $43.53 and a two-hundred day simple moving average of $40.87. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.77.
Genpact (NYSE:G) last issued its earnings results on Thursday, February 6th. The business services provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Genpact had a return on equity of 21.40% and a net margin of 8.66%. The business had revenue of $734.40 million during the quarter, compared to analysts’ expectations of $911.84 million. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. Research analysts predict that Genpact Limited will post 1.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be issued a $0.097 dividend. This represents a $0.39 annualized dividend and a dividend yield of 0.89%. This is a boost from Genpact’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 6th. Genpact’s dividend payout ratio is currently 21.79%.
In other Genpact news, SVP Heather White sold 4,307 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $44.88, for a total value of $193,298.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Humphrey sold 12,916,004 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.87, for a total value of $514,961,079.48. Following the completion of the transaction, the director now directly owns 34,907 shares of the company’s stock, valued at $1,391,742.09. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by corporate insiders.
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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