Everence Capital Management Inc. Acquires Shares of 4,890 Genpact Limited (NYSE:G)

Everence Capital Management Inc. bought a new position in shares of Genpact Limited (NYSE:G) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,890 shares of the business services provider’s stock, valued at approximately $210,000.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Genpact by 192.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock worth $122,701,000 after buying an additional 2,060,595 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Genpact by 34.2% during 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. Los Angeles Capital Management LLC purchased a new stake in Genpact in the third quarter worth $19,779,000. Tandem Investment Advisors Inc. bought a new stake in Genpact in the third quarter valued at $17,025,000. Finally, Geode Capital Management LLC increased its position in Genpact by 12.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock valued at $148,142,000 after purchasing an additional 413,646 shares during the period. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Price Performance

G stock opened at $43.47 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.54 and a beta of 1.18. The firm has a 50 day moving average price of $43.79 and a 200-day moving average price of $39.09. Genpact Limited has a 52-week low of $30.23 and a 52-week high of $47.98.

Genpact Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 9th were issued a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 1.40%. The ex-dividend date was Monday, December 9th. Genpact’s dividend payout ratio (DPR) is 16.76%.

Wall Street Analyst Weigh In

Several research firms have recently commented on G. Needham & Company LLC raised their target price on shares of Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen raised their price objective on shares of Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Robert W. Baird lifted their price objective on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Genpact currently has an average rating of “Hold” and an average price target of $42.33.

Insider Transactions at Genpact

In other news, CEO Balkrishan Kalra sold 13,600 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $44.60, for a total value of $606,560.00. Following the transaction, the chief executive officer now owns 267,404 shares in the company, valued at approximately $11,926,218.40. This represents a 4.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 23,058 shares of company stock valued at $1,044,715. Insiders own 2.80% of the company’s stock.

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.