Wedmont Private Capital Makes New Investment in Genpact Limited $G

Wedmont Private Capital acquired a new position in shares of Genpact Limited (NYSE:G) during the 2nd quarter, Holdings Channel reports. The fund acquired 18,156 shares of the business services provider’s stock, valued at approximately $533,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nalanda India Equity Fund Ltd boosted its holdings in shares of Genpact by 8.0% in the 4th quarter. Nalanda India Equity Fund Ltd now owns 13,702,500 shares of the business services provider’s stock worth $641,003,000 after purchasing an additional 1,015,556 shares during the period. AQR Capital Management LLC increased its position in shares of Genpact by 90.9% during the 4th quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider’s stock valued at $307,584,000 after purchasing an additional 3,131,643 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Genpact by 12.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,609,641 shares of the business services provider’s stock valued at $208,965,000 after buying an additional 598,877 shares during the period. FIL Ltd raised its holdings in Genpact by 114.4% during the 4th quarter. FIL Ltd now owns 4,802,854 shares of the business services provider’s stock valued at $224,678,000 after buying an additional 2,562,484 shares during the period. Finally, Geode Capital Management LLC lifted its position in Genpact by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,330,116 shares of the business services provider’s stock worth $210,391,000 after buying an additional 107,870 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on G. Weiss Ratings lowered shares of Genpact from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. Robert W. Baird reduced their target price on shares of Genpact from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 7th. Susquehanna raised their target price on shares of Genpact from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 price target on shares of Genpact in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Genpact from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.33.

Genpact Price Performance

Shares of G stock opened at $34.37 on Friday. Genpact Limited has a 52-week low of $26.85 and a 52-week high of $48.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $5.77 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.93 and a beta of 0.58. The stock has a 50 day moving average price of $33.97 and a 200 day moving average price of $34.29.

Genpact (NYSE:G) last announced its quarterly earnings data on Tuesday, June 30th. The business services provider reported $1.00 EPS for the quarter. The company had revenue of $1.34 billion for the quarter. Genpact had a return on equity of 23.34% and a net margin of 11.04%. As a group, sell-side analysts predict that Genpact Limited will post 3.66 earnings per share for the current year.

Genpact Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 10th. Genpact’s payout ratio is currently 22.26%.

Insider Activity at Genpact

In other news, SVP Anil Nanduru sold 6,191 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $37.03, for a total value of $229,252.73. Following the transaction, the senior vice president directly owned 70,253 shares in the company, valued at approximately $2,601,468.59. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.58% of the company’s stock.

Genpact Company Profile

Genpact is a global professional services and technology company that helps organizations transform business processes and improve operational performance. Its services combine artificial intelligence, data and analytics, cloud technologies, digital engineering, and process expertise to support functions such as finance and accounting, procurement, supply chain management, customer care, risk management, and insurance operations.

The company serves clients across industries including banking and capital markets, insurance, healthcare and life sciences, consumer goods and retail, high technology, manufacturing, and professional services.