Genpact Limited (NYSE:G) Shares Sold by FIL Ltd

FIL Ltd lowered its position in shares of Genpact Limited (NYSE:G) by 23.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,727,553 shares of the business services provider’s stock after selling 1,153,146 shares during the quarter. FIL Ltd’s holdings in Genpact were worth $160,098,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in G. SRH Advisors LLC acquired a new stake in shares of Genpact in the fourth quarter worth $26,000. Atlas Capital Advisors Inc. grew its position in Genpact by 55.8% during the 4th quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider’s stock worth $26,000 after purchasing an additional 216 shares during the period. Manchester Capital Management LLC purchased a new position in shares of Genpact during the 4th quarter valued at about $38,000. Smartleaf Asset Management LLC raised its stake in shares of Genpact by 416.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider’s stock valued at $41,000 after buying an additional 783 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Genpact by 55.7% in the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock worth $52,000 after buying an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Stock Performance

G opened at $45.05 on Wednesday. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.84 and a beta of 1.06. The firm’s fifty day simple moving average is $51.10 and its two-hundred day simple moving average is $45.59. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. Genpact Limited has a 52-week low of $30.23 and a 52-week high of $56.76.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. Equities analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a $0.17 dividend. This is an increase from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.51%. The ex-dividend date was Tuesday, March 11th. Genpact’s dividend payout ratio is currently 23.94%.

Insider Buying and Selling at Genpact

In other news, CEO Balkrishan Kalra sold 13,600 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the completion of the sale, the chief executive officer now directly owns 310,246 shares in the company, valued at $15,167,926.94. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the completion of the sale, the senior vice president now directly owns 151,182 shares of the company’s stock, valued at approximately $6,475,125.06. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Jefferies Financial Group raised shares of Genpact from a “hold” rating to a “buy” rating and lifted their target price for the company from $44.00 to $55.00 in a report on Tuesday, January 21st. Mizuho increased their price target on shares of Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, TD Cowen raised shares of Genpact from a “hold” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $60.00 in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.44.

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.