NorthCrest Asset Manangement LLC Sells 318 Shares of Genpact Limited (NYSE:G)

NorthCrest Asset Manangement LLC reduced its position in shares of Genpact Limited (NYSE:G) by 3.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,834 shares of the business services provider’s stock after selling 318 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Genpact were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Genpact by 308.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 455,070 shares of the business services provider’s stock worth $19,545,000 after purchasing an additional 343,752 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Genpact by 847.8% in the 4th quarter. Squarepoint Ops LLC now owns 354,549 shares of the business services provider’s stock worth $15,228,000 after purchasing an additional 401,962 shares in the last quarter. Teza Capital Management LLC raised its holdings in Genpact by 405.0% in the 4th quarter. Teza Capital Management LLC now owns 79,623 shares of the business services provider’s stock worth $3,420,000 after purchasing an additional 63,855 shares in the last quarter. State of Wyoming raised its holdings in Genpact by 302.7% in the 4th quarter. State of Wyoming now owns 6,536 shares of the business services provider’s stock worth $281,000 after purchasing an additional 4,913 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in Genpact in the 4th quarter worth $584,000. 96.03% of the stock is currently owned by institutional investors.

Genpact Stock Performance

Shares of NYSE G opened at $43.02 on Friday. The firm’s 50-day moving average price is $46.76 and its 200-day moving average price is $47.29. 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 company has a market cap of $7.52 billion, a PE ratio of 15.15, a PEG ratio of 1.84 and a beta of 1.02. Genpact Limited has a 52-week low of $30.38 and a 52-week high of $56.76.

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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Genpact had a net margin of 10.77% and a return on equity of 22.50%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 EPS. As a group, analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on G. TD Cowen upgraded shares of Genpact from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Mizuho increased 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. Needham & Company LLC cut their price objective on shares of Genpact from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Robert W. Baird cut their price objective on shares of Genpact from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Genpact has a consensus rating of “Hold” and a consensus price target of $50.71.

Insider Activity

In related news, CEO Balkrishan Kalra sold 13,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $48.89, for a total value of $664,904.00. Following the transaction, the chief executive officer now owns 310,246 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, Director Nicholas C. Gangestad acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $87,940. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 2.80% 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.