Heritage Wealth Management Inc. Buys Shares of 18,955 Genpact Limited (NYSE:G)

Heritage Wealth Management Inc. purchased a new position in Genpact Limited (NYSE:G) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,955 shares of the business services provider’s stock, valued at approximately $589,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Parallel Advisors LLC grew its stake in Genpact by 22.6% during the 4th quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock worth $65,000 after buying an additional 347 shares during the last quarter. Cloverfields Capital Group LP increased its holdings in shares of Genpact by 1.5% in the 1st quarter. Cloverfields Capital Group LP now owns 28,950 shares of the business services provider’s stock worth $954,000 after acquiring an additional 416 shares during the period. United Services Automobile Association lifted its position in Genpact by 3.3% in the 2nd quarter. United Services Automobile Association now owns 13,388 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 433 shares during the last quarter. State of Michigan Retirement System boosted its stake in Genpact by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 40,584 shares of the business services provider’s stock valued at $1,337,000 after purchasing an additional 500 shares during the period. Finally, Moloney Securities Asset Management LLC increased its stake in shares of Genpact by 2.0% in the first quarter. Moloney Securities Asset Management LLC now owns 27,236 shares of the business services provider’s stock valued at $897,000 after purchasing an additional 529 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Trading Down 0.4 %

Shares of NYSE:G opened at $39.26 on Thursday. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.63 and a beta of 1.13. Genpact Limited has a 1-year low of $29.41 and a 1-year high of $39.95. The company has a 50 day moving average price of $37.48 and a 200 day moving average price of $34.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 1.89.

Genpact (NYSE:G) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, research analysts anticipate that Genpact Limited will post 2.85 EPS for the current fiscal year.

Genpact Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were given a $0.1525 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.61 annualized dividend and a dividend yield of 1.55%. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on G shares. BMO Capital Markets boosted their price objective on Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Jefferies Financial Group raised their price target on Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a report on Monday, September 9th. TD Cowen upped their price objective on shares of Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Needham & Company LLC raised their target price on shares of Genpact from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Genpact currently has a consensus rating of “Hold” and an average target price of $38.78.

Genpact 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.