Gradient Investments LLC bought a new stake in shares of Genpact Limited (NYSE:G – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 414,315 shares of the business services provider’s stock, valued at approximately $15,566,000. Gradient Investments LLC owned approximately 0.23% of Genpact as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in G. Fred Alger Management LLC raised its holdings in Genpact by 136.7% in the fourth quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock worth $41,000 after purchasing an additional 507 shares in the last quarter. Clearstead Advisors LLC purchased a new position in Genpact during the 1st quarter valued at about $42,000. Ronald Blue Trust Inc. lifted its position in Genpact by 71.5% during the 1st quarter. Ronald Blue Trust Inc. now owns 1,103 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 460 shares during the period. Belpointe Asset Management LLC bought a new stake in Genpact during the fourth quarter worth about $52,000. Finally, State of Wyoming purchased a new stake in Genpact in the fourth quarter worth about $66,000. Hedge funds and other institutional investors own 96.33% of the company’s stock.
Analyst Upgrades and Downgrades
G has been the topic of several recent research reports. BMO Capital Markets cut their price target on Genpact from $46.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, August 10th. Deutsche Bank Aktiengesellschaft reduced their price target on Genpact from $48.00 to $37.00 in a report on Thursday, August 10th. TheStreet cut shares of Genpact from a “b-” rating to a “c+” rating in a research note on Friday, June 9th. StockNews.com began coverage on shares of Genpact in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Wedbush reiterated a “neutral” rating and issued a $45.00 target price on shares of Genpact in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genpact currently has a consensus rating of “Hold” and a consensus target price of $42.13.
Insiders Place Their Bets
In other news, CEO N. V. Tyagarajan sold 1,700 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $35.89, for a total transaction of $61,013.00. Following the completion of the sale, the chief executive officer now owns 8,300 shares of the company’s stock, valued at approximately $297,887. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.62% of the company’s stock.
Genpact Price Performance
Shares of G opened at $36.98 on Friday. The firm has a market cap of $6.71 billion, a PE ratio of 16.89, a P/E/G ratio of 1.42 and a beta of 1.18. Genpact Limited has a 1-year low of $35.31 and a 1-year high of $48.85. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $37.20 and a two-hundred day simple moving average of $39.95.
Genpact (NYSE:G – Get Free Report) last posted its earnings results on Wednesday, August 9th. The business services provider reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Genpact had a return on equity of 25.06% and a net margin of 9.25%. On average, equities analysts anticipate that Genpact Limited will post 2.57 EPS for the current year.
Genpact Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.1375 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.55 dividend on an annualized basis and a yield of 1.49%. Genpact’s dividend payout ratio is currently 25.11%.
Genpact Company Profile
Genpact Limited provides business process outsourcing and information technology (IT) 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 company offers CFO advisory services; and environmental, social, and governance (ESG) services, such as data management, carbon accounting, human rights assessment, sustainability diligence, and ESG reporting.
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