Cresset Asset Management LLC Sells 38,899 Shares of Genpact Limited (NYSE:G)

Cresset Asset Management LLC reduced its position in shares of Genpact Limited (NYSE:G) by 71.8% in the fourth quarter, HoldingsChannel reports. The firm owned 15,294 shares of the business services provider’s stock after selling 38,899 shares during the quarter. Cresset Asset Management LLC’s holdings in Genpact were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in G. Atlas Capital Advisors Inc. increased 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 acquiring an additional 216 shares in the last quarter. Stifel Financial Corp increased its holdings in Genpact by 1.0% in the 4th quarter. Stifel Financial Corp now owns 30,821 shares of the business services provider’s stock worth $1,324,000 after acquiring an additional 291 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Genpact by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,692 shares of the business services provider’s stock worth $244,000 after acquiring an additional 297 shares in the last quarter. Tealwood Asset Management Inc. increased its holdings in Genpact by 1.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 24,658 shares of the business services provider’s stock worth $1,059,000 after acquiring an additional 339 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Genpact by 55.7% in the 4th quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock worth $52,000 after acquiring an additional 433 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insider Transactions at Genpact

In related news, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the sale, the chief executive officer now owns 310,246 shares in the company, valued at approximately $15,167,926.94. This represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on G shares. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and upped their price target for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. Robert W. Baird dropped their price target on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. TD Cowen upgraded Genpact from a “hold” rating to a “buy” rating and upped their price target for the stock 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 dropped their price target on Genpact from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.71.

Genpact Stock Up 0.5%

Shares of G opened at $43.74 on Wednesday. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.84 and a beta of 1.02. Genpact Limited has a 1 year low of $30.38 and a 1 year high of $56.76. The business’s 50 day simple moving average is $48.57 and its 200-day simple moving average is $47.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85.

Genpact (NYSE:G) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. As a group, equities analysts expect that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Company Profile

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.