Renaissance Technologies LLC Has $6.68 Million Holdings in Genpact Limited (NYSE:G)

Renaissance Technologies LLC raised its position in shares of Genpact Limited (NYSE:G) by 26.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 155,500 shares of the business services provider’s stock after buying an additional 32,651 shares during the period. Renaissance Technologies LLC’s holdings in Genpact were worth $6,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Genpact by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,962,496 shares of the business services provider’s stock worth $728,539,000 after acquiring an additional 61,376 shares during the period. Victory Capital Management Inc. lifted its position in shares of Genpact by 18.1% in the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock worth $423,205,000 after purchasing an additional 1,511,790 shares in the last quarter. Franklin Resources Inc. grew its position in Genpact by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 4,203,956 shares of the business services provider’s stock valued at $180,560,000 after purchasing an additional 55,771 shares in the last quarter. Geode Capital Management LLC increased its stake in Genpact by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 3,825,344 shares of the business services provider’s stock valued at $170,175,000 after buying an additional 133,938 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Genpact by 8.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,400,636 shares of the business services provider’s stock worth $146,057,000 after buying an additional 271,295 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Genpact Stock Down 0.4 %

Shares of Genpact stock opened at $47.56 on Friday. Genpact Limited has a 12-month low of $30.38 and a 12-month high of $56.76. The stock has a market capitalization of $8.35 billion, a P/E ratio of 16.75, a PEG ratio of 1.84 and a beta of 1.06. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $50.52 and a two-hundred day moving average price of $46.04.

Genpact (NYSE:G) last posted its earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) 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 expect that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Genpact’s previous quarterly dividend of $0.15. Genpact’s payout ratio is currently 23.94%.

Insider Buying and Selling at Genpact

In related news, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the sale, the chief executive officer now directly owns 310,246 shares of the company’s stock, valued at $15,167,926.94. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on G. TD Cowen raised shares of Genpact from a “hold” rating to a “buy” rating and upped their price target for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and upped their target price for the stock from $44.00 to $55.00 in a research report on Tuesday, January 21st. Needham & Company LLC lifted their price target on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Mizuho increased their price objective on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Genpact presently has a consensus rating of “Hold” and a consensus target price of $48.44.

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.