Allspring Global Investments Holdings LLC Sells 613 Shares of Genpact Limited (NYSE:G)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Genpact Limited (NYSE:G) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 787 shares of the business services provider’s stock after selling 613 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Genpact were worth $31,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in G. Vanguard Group Inc. raised its holdings in shares of Genpact by 1.3% in the first quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock valued at $565,845,000 after acquiring an additional 218,526 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Genpact by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after acquiring an additional 847,249 shares in the last quarter. Capital International Investors raised its holdings in shares of Genpact by 51.8% in the first quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock valued at $101,715,000 after acquiring an additional 1,053,236 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in shares of Genpact by 22.2% in the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock valued at $50,456,000 after acquiring an additional 284,842 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Genpact by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 1,512,259 shares of the business services provider’s stock valued at $48,680,000 after acquiring an additional 122,993 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Genpact Price Performance

Shares of G stock opened at $39.07 on Wednesday. Genpact Limited has a fifty-two week low of $29.41 and a fifty-two week high of $39.95. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 1.89. The stock’s 50-day simple moving average is $38.82 and its 200-day simple moving average is $35.33.

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

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a $0.1525 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.61 annualized dividend and a yield of 1.56%. Genpact’s dividend payout ratio is presently 17.23%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Jefferies Financial Group boosted their target price on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Robert W. Baird boosted their target price on shares of Genpact from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Needham & Company LLC boosted their target price on shares of Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.44.

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.