Genpact Limited (NYSE:G) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Genpact Limited (NYSE:G) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 475,772 shares of the business services provider’s stock after selling 88,917 shares during the quarter. New York State Common Retirement Fund owned approximately 0.27% of Genpact worth $20,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jensen Investment Management Inc. increased its position in shares of Genpact by 6.4% during the third quarter. Jensen Investment Management Inc. now owns 189,985 shares of the business services provider’s stock worth $7,449,000 after purchasing an additional 11,410 shares in the last quarter. Stifel Financial Corp purchased a new position in Genpact during the 3rd quarter worth approximately $1,197,000. Blue Trust Inc. increased its position in Genpact by 8.7% during the fourth quarter. Blue Trust Inc. now owns 5,531 shares of the business services provider’s stock worth $217,000 after buying an additional 441 shares during the period. Burney Co. lifted its stake in Genpact by 242.8% in the fourth quarter. Burney Co. now owns 130,798 shares of the business services provider’s stock valued at $5,618,000 after buying an additional 92,641 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Genpact in the fourth quarter valued at approximately $298,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Piyush Mehta sold 12,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the sale, the senior vice president now directly owns 151,182 shares in the company, valued at $6,475,125.06. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Balkrishan Kalra sold 13,600 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $44.60, for a total transaction of $606,560.00. Following the transaction, the chief executive officer now owns 267,404 shares of the company’s stock, valued at $11,926,218.40. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,600 shares of company stock worth $1,538,120. 2.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their target price on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 8th. TD Cowen upgraded shares of 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. Jefferies Financial Group upgraded shares of Genpact from a “hold” rating to a “buy” rating and increased their target price for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. Needham & Company LLC boosted their price target on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Mizuho increased their price objective on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Genpact currently has an average rating of “Hold” and a consensus price target of $48.44.

Genpact Stock Performance

NYSE G opened at $53.21 on Friday. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.84 and a beta of 1.20. The business’s 50 day moving average is $47.00 and its two-hundred day moving average is $42.81. Genpact Limited has a 12-month low of $30.23 and a 12-month high of $56.76. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. Research analysts expect that Genpact Limited will post 3.21 EPS for the current year.

Genpact Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $0.17 dividend. This is a boost from Genpact’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, March 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. Genpact’s dividend payout ratio (DPR) is 21.48%.

About Genpact

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.