QRG Capital Management Inc. Grows Position in Genpact Limited (NYSE:G)

QRG Capital Management Inc. increased its position in Genpact Limited (NYSE:G) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,442 shares of the business services provider’s stock after purchasing an additional 8,859 shares during the quarter. QRG Capital Management Inc. owned approximately 0.05% of Genpact worth $4,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in G. Norges Bank bought a new position in Genpact during the 4th quarter valued at approximately $90,516,000. Tandem Investment Advisors Inc. increased its position in Genpact by 390.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider’s stock valued at $91,480,000 after buying an additional 1,695,706 shares in the last quarter. Victory Capital Management Inc. increased its position in Genpact by 18.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after buying an additional 1,511,790 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Genpact during the 4th quarter valued at approximately $60,110,000. Finally, Millennium Management LLC increased its position in Genpact by 829.4% during the 4th quarter. Millennium Management LLC now owns 1,057,389 shares of the business services provider’s stock valued at $45,415,000 after buying an additional 943,622 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Activity at Genpact

In related news, Director Nicholas C. Gangestad bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $87,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on G shares. Robert W. Baird reduced their target price on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Needham & Company LLC reduced their target price on Genpact from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen raised Genpact from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Genpact presently has a consensus rating of “Moderate Buy” and an average target price of $50.71.

Genpact Stock Performance

Shares of G opened at $43.16 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 2.45. Genpact Limited has a one year low of $30.38 and a one year high of $56.76. The firm has a market capitalization of $7.55 billion, a P/E ratio of 14.73, a PEG ratio of 1.67 and a beta of 0.94. The business has a fifty day moving average of $45.44 and a 200 day moving average of $47.09.

Genpact (NYSE:G) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. Genpact’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, June 18th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.68 annualized dividend and a yield of 1.58%. Genpact’s dividend payout ratio (DPR) is presently 23.21%.

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.