State of New Jersey Common Pension Fund D acquired a new position in shares of Genpact Limited (NYSE:G – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 47,268 shares of the business services provider’s stock, valued at approximately $2,030,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in G. Creative Planning grew its position in Genpact by 19.4% in the 3rd quarter. Creative Planning now owns 30,590 shares of the business services provider’s stock worth $1,199,000 after purchasing an additional 4,976 shares in the last quarter. Greenleaf Trust bought a new position in shares of Genpact in the third quarter valued at approximately $210,000. Ballentine Partners LLC grew its holdings in shares of Genpact by 38.1% in the third quarter. Ballentine Partners LLC now owns 19,859 shares of the business services provider’s stock valued at $779,000 after acquiring an additional 5,482 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Genpact in the third quarter valued at approximately $213,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Genpact in the third quarter valued at approximately $250,000. 96.03% of the stock is owned by institutional investors.
Insider Activity
In related news, SVP Piyush Mehta sold 12,000 shares of Genpact stock in a transaction on Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the sale, the senior vice president now owns 151,182 shares of the company’s stock, valued at approximately $6,475,125.06. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $44.60, for a total value of $606,560.00. Following the sale, the chief executive officer now owns 267,404 shares of the company’s stock, valued at approximately $11,926,218.40. This trade represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.
Genpact Stock Down 2.3 %
Genpact (NYSE:G – Get Free Report) last posted its quarterly 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%. On average, sell-side analysts expect that Genpact Limited will post 3.21 EPS for the current year.
Genpact Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a $0.17 dividend. This is a positive change from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, March 11th. Genpact’s dividend payout ratio (DPR) is 23.94%.
Analyst Ratings Changes
A number of brokerages have issued reports on G. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and upped their price objective for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Robert W. Baird increased their price target on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. TD Cowen upgraded shares of Genpact from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Mizuho increased their target price on shares of Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC increased their target price on shares of Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Genpact presently has an average rating of “Hold” and a consensus price target of $48.44.
Get Our Latest Report on Genpact
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.
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