Lord Abbett & CO. LLC Takes Position in Genpact Limited (NYSE:G)

Lord Abbett & CO. LLC bought a new position in Genpact Limited (NYSE:G) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,399,531 shares of the business services provider’s stock, valued at approximately $60,110,000.

Other hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC raised its holdings in shares of Genpact by 529.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 503 shares in the last quarter. SRH Advisors LLC purchased a new position in Genpact during the 4th quarter valued at $26,000. Atlas Capital Advisors Inc. raised its holdings in Genpact by 55.8% in the 4th quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider’s stock worth $26,000 after purchasing an additional 216 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Genpact by 199.0% in the 4th quarter. GeoWealth Management LLC now owns 876 shares of the business services provider’s stock worth $38,000 after purchasing an additional 583 shares during the period. Finally, Manchester Capital Management LLC bought a new stake in shares of Genpact during the 4th quarter valued at about $38,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Genpact Price Performance

G opened at $48.07 on Friday. The firm has a market cap of $8.44 billion, a PE ratio of 16.93, a P/E/G ratio of 1.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85. The stock has a 50-day moving average price of $49.90 and a 200-day moving average price of $46.25. Genpact Limited has a 1 year low of $30.38 and a 1 year high of $56.76.

Genpact (NYSE:G) last announced its earnings results on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. Sell-side analysts predict that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.68 annualized dividend and a yield of 1.41%. This is an increase from Genpact’s previous quarterly dividend of $0.15. Genpact’s payout ratio is currently 23.94%.

Insider Transactions at Genpact

In related news, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the completion of the sale, the chief executive officer now owns 310,246 shares in the company, valued at approximately $15,167,926.94. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group upgraded shares of Genpact from a “hold” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $55.00 in a report on Tuesday, January 21st. TD Cowen upgraded Genpact from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $60.00 in a research note on Friday, February 7th. Mizuho upped their price target on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Needham & Company LLC raised their price objective on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Genpact currently has a consensus rating of “Hold” and an average price target of $50.38.

About Genpact

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.