Genpact Limited (NYSE:G) Stake Lessened by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its stake in shares of Genpact Limited (NYSE:GFree Report) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,672 shares of the business services provider’s stock after selling 7,499 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Genpact worth $5,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in shares of Genpact by 69.1% in the 2nd quarter. Parallel Advisors LLC now owns 773 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. Fred Alger Management LLC increased its holdings in shares of Genpact by 136.7% in the 4th quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 507 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of Genpact by 71.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,039 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 432 shares during the period. Janiczek Wealth Management LLC acquired a new position in shares of Genpact in the 3rd quarter valued at about $48,000. Finally, State of Wyoming acquired a new position in shares of Genpact in the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Heather White sold 11,450 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $36.00, for a total value of $412,200.00. Following the completion of the sale, the senior vice president now directly owns 21,175 shares in the company, valued at $762,300. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on G shares. StockNews.com upgraded Genpact from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 7th. Citigroup increased their price objective on Genpact from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Mizuho started coverage on Genpact in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $40.00 price objective for the company. Robert W. Baird reissued a “neutral” rating and issued a $38.00 price objective on shares of Genpact in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. upped their target price on Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.11.

Get Our Latest Analysis on G

Genpact Stock Performance

Shares of NYSE G opened at $36.07 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $34.98 and a 200 day simple moving average of $35.36. Genpact Limited has a one year low of $29.41 and a one year high of $48.58. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.64 and a beta of 1.11.

Genpact Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Monday, March 11th will be paid a dividend of $0.153 per share. This is a positive change from Genpact’s previous quarterly dividend of $0.14. This represents a $0.61 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, March 8th. Genpact’s dividend payout ratio is currently 16.03%.

Genpact Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Genpact (NYSE:G)

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