Jasper Ridge Partners L.P. Acquires New Shares in Genpact Limited (NYSE:G)

Jasper Ridge Partners L.P. bought a new position in Genpact Limited (NYSE:G) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 19,155 shares of the business services provider’s stock, valued at approximately $823,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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. raised 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 buying an additional 1,511,790 shares in the last quarter. Franklin Resources Inc. boosted its stake 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 buying an additional 55,771 shares during the period. Dimensional Fund Advisors LP grew its position in Genpact by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,848,449 shares of the business services provider’s stock worth $165,288,000 after buying an additional 208,759 shares in the last quarter. Finally, 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 worth $170,175,000 after acquiring an additional 133,938 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Genpact Stock Up 1.0 %

Shares of NYSE:G opened at $42.45 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a 12-month low of $30.38 and a 12-month high of $56.76. The stock’s 50-day moving average price is $48.74 and its 200-day moving average price is $47.01. The stock has a market capitalization of $7.46 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.02.

Genpact (NYSE:G) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Genpact had a return on equity of 22.50% and a net margin of 10.77%. Genpact’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. On average, equities analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on G shares. Needham & Company LLC dropped their price target on Genpact from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird cut their price target on shares of Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday. Mizuho raised their price objective on shares of Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Jefferies Financial Group upgraded shares of 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. Finally, TD Cowen upgraded Genpact from a “hold” rating to a “buy” rating and raised their price target for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Four 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.com, Genpact has an average rating of “Hold” and an average price target of $50.71.

Insider Transactions at Genpact

In other news, CEO Balkrishan Kalra sold 13,600 shares of the firm’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 transaction, the chief executive officer now owns 310,246 shares in the company, valued at $15,167,926.94. This trade represents a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

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.