Cresset Asset Management LLC Sells 38,899 Shares of Genpact Limited (NYSE:G)

Cresset Asset Management LLC cut its position in shares of Genpact Limited (NYSE:G) by 71.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,294 shares of the business services provider’s stock after selling 38,899 shares during the quarter. Cresset Asset Management LLC’s holdings in Genpact were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in G. Norges Bank bought a new stake in shares of Genpact during the fourth quarter valued at approximately $90,516,000. Tandem Investment Advisors Inc. boosted its position in shares of Genpact by 390.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider’s stock valued at $91,480,000 after purchasing an additional 1,695,706 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Genpact by 18.1% during the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after purchasing an additional 1,511,790 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Genpact during the fourth quarter valued at approximately $60,110,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of Genpact by 803.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 425,465 shares of the business services provider’s stock valued at $18,274,000 after purchasing an additional 378,352 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on G. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and lifted their price target for the company from $44.00 to $55.00 in a research report on Tuesday, January 21st. Mizuho lifted their price objective on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. TD Cowen upgraded 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 research note on Friday, February 7th. Robert W. Baird lowered their price objective on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC lowered their price objective on Genpact from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Genpact presently has a consensus rating of “Hold” and a consensus target price of $50.71.

Insider Transactions at Genpact

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

Genpact Stock Up 0.5%

G stock opened at $43.74 on Wednesday. Genpact Limited has a 1-year low of $30.38 and a 1-year high of $56.76. The business has a fifty day moving average price of $48.57 and a 200-day moving average price of $47.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85. The stock has a market capitalization of $7.68 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.84 and a beta of 1.02.

Genpact (NYSE:G) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Company 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.