State Board of Administration of Florida Retirement System cut its stake in shares of Genpact Limited (NYSE:G) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,755 shares of the business services provider’s stock after selling 2,980 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.09% of Genpact worth $6,324,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Stevens Capital Management LP increased its stake in shares of Genpact by 50.3% in the 1st quarter. Stevens Capital Management LP now owns 76,431 shares of the business services provider’s stock valued at $2,689,000 after acquiring an additional 25,565 shares in the last quarter. Sigma Planning Corp bought a new stake in shares of Genpact in the 1st quarter valued at $238,000. Tygh Capital Management Inc. increased its stake in shares of Genpact by 7.0% in the 1st quarter. Tygh Capital Management Inc. now owns 210,494 shares of the business services provider’s stock valued at $7,405,000 after acquiring an additional 13,787 shares in the last quarter. Montag & Caldwell LLC increased its stake in shares of Genpact by 4.2% in the 1st quarter. Montag & Caldwell LLC now owns 15,189 shares of the business services provider’s stock valued at $534,000 after acquiring an additional 609 shares in the last quarter. Finally, JLB & Associates Inc. bought a new stake in shares of Genpact in the 1st quarter valued at $242,000. 93.97% of the stock is currently owned by institutional investors.
A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Genpact from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald restated a “buy” rating and set a $36.00 price target on shares of Genpact in a research note on Sunday, March 3rd. ValuEngine upgraded shares of Genpact from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Wells Fargo & Co upgraded shares of Genpact from a “market perform” rating to an “outperform” rating and set a $33.25 price target for the company in a research note on Friday, March 8th. Finally, Royal Bank of Canada lowered shares of Genpact from an “outperform” rating to a “sector perform” rating and set a $33.50 price target for the company. in a research note on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $33.97.
In related news, insider N. V. Tyagarajan sold 150,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $35.37, for a total value of $5,305,500.00. Following the transaction, the insider now directly owns 633,891 shares of the company’s stock, valued at approximately $22,420,724.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bain Capital Investors Llc sold 8,500,194 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $36.01, for a total transaction of $306,091,985.94. The disclosure for this sale can be found here. Insiders sold a total of 10,284,683 shares of company stock worth $370,247,491 over the last three months. 1.86% of the stock is owned by insiders.
Shares of NYSE G traded up $0.20 during trading on Friday, hitting $36.98. The stock had a trading volume of 664,450 shares, compared to its average volume of 919,641. Genpact Limited has a 12 month low of $25.48 and a 12 month high of $37.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.03 and a beta of 0.83.
Genpact (NYSE:G) last posted its earnings results on Thursday, May 2nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The firm had revenue of $809.21 million during the quarter, compared to analyst estimates of $764.50 million. Genpact had a net margin of 8.91% and a return on equity of 22.33%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 EPS. On average, research analysts anticipate that Genpact Limited will post 1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Wednesday, June 12th will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Tuesday, June 11th. Genpact’s dividend payout ratio (DPR) is currently 21.25%.
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Genpact Company Profile
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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