Shell Asset Management Co. reduced its holdings in Genpact Limited (NYSE:G) by 29.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,824 shares of the business services provider’s stock after selling 9,735 shares during the quarter. Shell Asset Management Co.’s holdings in Genpact were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of Genpact by 224.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,375 shares of the business services provider’s stock valued at $213,000 after purchasing an additional 5,099 shares during the period. Comerica Bank raised its position in shares of Genpact by 16.6% in the second quarter. Comerica Bank now owns 76,538 shares of the business services provider’s stock valued at $2,303,000 after purchasing an additional 10,910 shares during the period. Victory Capital Management Inc. raised its position in shares of Genpact by 13.3% in the second quarter. Victory Capital Management Inc. now owns 137,833 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 16,181 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Genpact in the second quarter valued at approximately $321,000. Finally, Sei Investments Co. raised its position in shares of Genpact by 28.3% in the second quarter. Sei Investments Co. now owns 261,940 shares of the business services provider’s stock valued at $7,577,000 after purchasing an additional 57,759 shares during the period. Hedge funds and other institutional investors own 89.43% of the company’s stock.
G stock opened at $28.65 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.31 and a quick ratio of 1.31. Genpact Limited has a one year low of $26.46 and a one year high of $34.79. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.86 and a beta of 0.71.
Genpact (NYSE:G) last released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. Genpact had a net margin of 9.31% and a return on equity of 22.26%. The business had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $754.93 million. During the same quarter in the previous year, the company earned $0.46 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Genpact Limited will post 1.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 10th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.05%. Genpact’s dividend payout ratio is presently 20.13%.
A number of analysts recently weighed in on G shares. Zacks Investment Research lowered shares of Genpact from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Wells Fargo & Co set a $32.00 target price on shares of Genpact and gave the stock a “hold” rating in a report on Wednesday, November 7th. Cowen reaffirmed a “buy” rating and set a $35.00 target price on shares of Genpact in a report on Wednesday, November 7th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $36.00 target price on shares of Genpact in a report on Wednesday, November 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Genpact from $33.00 to $32.00 and set an “underweight” rating on the stock in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.31.
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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; over-the counter 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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