BlueCrest Capital Management Ltd trimmed its position in Genpact Limited (NYSE:G) by 25.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,397 shares of the business services provider’s stock after selling 5,306 shares during the period. BlueCrest Capital Management Ltd’s holdings in Genpact were worth $489,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Genpact by 6.6% in the fourth quarter. BlackRock Inc. now owns 12,772,040 shares of the business services provider’s stock worth $405,384,000 after purchasing an additional 785,600 shares during the period. Brown Advisory Inc. grew its stake in Genpact by 2.0% in the third quarter. Brown Advisory Inc. now owns 12,598,190 shares of the business services provider’s stock worth $362,198,000 after purchasing an additional 247,088 shares during the period. Alliancebernstein L.P. boosted its holdings in Genpact by 10.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,158,448 shares of the business services provider’s stock worth $100,249,000 after acquiring an additional 297,894 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Genpact by 7.7% in the fourth quarter. Pzena Investment Management LLC now owns 2,843,211 shares of the business services provider’s stock worth $90,243,000 after acquiring an additional 204,077 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in Genpact by 1.9% in the fourth quarter. Congress Asset Management Co. MA now owns 2,665,625 shares of the business services provider’s stock worth $84,607,000 after acquiring an additional 50,390 shares in the last quarter. 91.01% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on the company. Citigroup dropped their target price on Genpact from $39.00 to $37.50 and set a “buy” rating on the stock in a report on Tuesday, February 13th. BMO Capital Markets boosted their target price on Genpact to $35.00 and gave the stock a “market perform” rating in a report on Tuesday, February 13th. JPMorgan Chase dropped their target price on Genpact from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 target price on shares of Genpact in a report on Tuesday, February 13th. Finally, Zacks Investment Research downgraded Genpact from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $34.65.
Shares of NYSE:G traded down $0.87 during midday trading on Friday, reaching $31.34. 559,714 shares of the company’s stock traded hands, compared to its average volume of 681,390. The company has a market cap of $6,063.63, a P/E ratio of 21.03, a PEG ratio of 2.02 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.71. Genpact Limited has a one year low of $23.34 and a one year high of $34.79.
Genpact (NYSE:G) last announced its quarterly earnings results on Monday, February 12th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $734.41 million for the quarter, compared to the consensus estimate of $723.55 million. Genpact had a return on equity of 22.75% and a net margin of 9.61%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. sell-side analysts anticipate that Genpact Limited will post 1.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Friday, March 9th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 8th. This is a boost from Genpact’s previous quarterly dividend of $0.06. Genpact’s dividend payout ratio is 20.13%.
In related news, Director James C. Madden sold 4,270 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $30.92, for a total transaction of $132,028.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arvinder Singh sold 22,690 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.95, for a total value of $770,325.50. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by corporate insiders.
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Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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