Genpact Limited (G) Position Reduced by MAI Capital Management

MAI Capital Management lessened its stake in Genpact Limited (NYSE:G) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,105 shares of the business services provider’s stock after selling 1,400 shares during the quarter. MAI Capital Management’s holdings in Genpact were worth $883,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Martingale Asset Management L P increased its stake in shares of Genpact by 4.4% in the 3rd quarter. Martingale Asset Management L P now owns 1,210,746 shares of the business services provider’s stock valued at $37,062,000 after purchasing an additional 50,807 shares in the last quarter. Credit Suisse AG purchased a new stake in Genpact during the 3rd quarter worth approximately $1,301,000. Macquarie Group Ltd. increased its stake in Genpact by 26.2% during the 3rd quarter. Macquarie Group Ltd. now owns 88,725 shares of the business services provider’s stock worth $2,716,000 after buying an additional 18,425 shares in the last quarter. Legal & General Group Plc increased its stake in Genpact by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 111,121 shares of the business services provider’s stock worth $3,402,000 after buying an additional 2,291 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Genpact by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,373,412 shares of the business services provider’s stock worth $378,750,000 after buying an additional 52,109 shares in the last quarter. Hedge funds and other institutional investors own 95.82% of the company’s stock.

In related news, insider Patrick Cogny sold 9,943 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $33.36, for a total value of $331,698.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO N. V. Tyagarajan sold 133,625 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $35.95, for a total value of $4,803,818.75. Following the completion of the transaction, the chief executive officer now owns 617,516 shares in the company, valued at $22,199,700.20. The disclosure for this sale can be found here. Insiders sold 318,625 shares of company stock valued at $11,273,160 over the last 90 days. Company insiders own 1.86% of the company’s stock.

Several equities research analysts have commented on G shares. Wells Fargo & Co upgraded Genpact from a “market perform” rating to an “outperform” rating and set a $33.25 price objective for the company in a research note on Friday, March 8th. Zacks Investment Research lowered Genpact from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Bank of America upgraded Genpact from an “underperform” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, February 6th. Cantor Fitzgerald reiterated a “buy” rating and set a $36.00 price objective on shares of Genpact in a research note on Sunday, March 3rd. Finally, Royal Bank of Canada lowered Genpact from an “outperform” rating to a “sector perform” rating and set a $33.50 price objective for the company. in a research note on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.97.

Shares of G stock traded down $0.16 during trading hours on Wednesday, reaching $36.25. The company had a trading volume of 3,103,600 shares, compared to its average volume of 860,024. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.38 and a quick ratio of 1.39. The firm has a market capitalization of $6.78 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.99 and a beta of 0.87. Genpact Limited has a 12-month low of $25.48 and a 12-month high of $37.70.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $809.21 million during the quarter, compared to analyst estimates of $764.50 million. Genpact had a return on equity of 22.33% and a net margin of 8.91%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. On average, equities research analysts expect that Genpact Limited will post 1.71 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Wednesday, June 12th will be given a $0.085 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.94%. Genpact’s dividend payout ratio (DPR) is presently 21.25%.

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About Genpact

Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.

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Institutional Ownership by Quarter for Genpact (NYSE:G)

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