Rhumbline Advisers Sells 1,118 Shares of Genpact Limited (NYSE:G)

Rhumbline Advisers trimmed its stake in shares of Genpact Limited (NYSE:G) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 529,261 shares of the business services provider’s stock after selling 1,118 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Genpact worth $22,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in Genpact in the fourth quarter worth approximately $7,545,000. SRH Advisors LLC bought a new stake in Genpact in the fourth quarter worth approximately $26,000. Summit Trail Advisors LLC increased its holdings in Genpact by 50.7% in the fourth quarter. Summit Trail Advisors LLC now owns 30,832 shares of the business services provider’s stock worth $1,324,000 after purchasing an additional 10,375 shares in the last quarter. Stephens Inc. AR increased its holdings in Genpact by 372.7% in the fourth quarter. Stephens Inc. AR now owns 61,643 shares of the business services provider’s stock worth $2,648,000 after purchasing an additional 48,602 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Genpact by 1,942.3% in the fourth quarter. Empowered Funds LLC now owns 325,379 shares of the business services provider’s stock worth $13,975,000 after purchasing an additional 309,447 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Genpact Stock Down 1.0 %

Shares of NYSE:G opened at $54.44 on Friday. Genpact Limited has a 52-week low of $30.23 and a 52-week high of $56.76. The firm has a market capitalization of $9.60 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.85 and a beta of 1.20. The stock has a 50 day moving average price of $46.83 and a 200-day moving average price of $42.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. As a group, equities research analysts anticipate that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.25%. This is an increase from Genpact’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, March 11th. Genpact’s dividend payout ratio is 21.48%.

Wall Street Analyst Weigh In

A number of brokerages have commented on G. TD Cowen raised Genpact from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $60.00 in a research note on Friday, February 7th. Robert W. Baird raised their price objective on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC raised their price objective on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and raised their price objective for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Finally, Mizuho raised their price objective on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.44.

Insider Activity at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.40, for a total transaction of $417,600.00. Following the transaction, the chief executive officer now owns 267,404 shares in the company, valued at approximately $12,407,545.60. This represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Piyush Mehta sold 12,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total transaction of $513,960.00. Following the transaction, the senior vice president now owns 151,182 shares in the company, valued at $6,475,125.06. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,600 shares of company stock valued at $1,538,120. 2.80% of the stock is owned by insiders.

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.