Bank of New York Mellon Corp reduced its stake in Genpact Limited (NYSE:G) by 6.0% during the second quarter, Holdings Channel reports. The fund owned 494,932 shares of the business services provider’s stock after selling 31,687 shares during the period. Bank of New York Mellon Corp’s holdings in Genpact were worth $14,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in G. Fort L.P. purchased a new stake in shares of Genpact in the second quarter worth $116,000. SRS Capital Advisors Inc. grew its stake in shares of Genpact by 88.6% in the second quarter. SRS Capital Advisors Inc. now owns 4,820 shares of the business services provider’s stock worth $139,000 after acquiring an additional 2,264 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in shares of Genpact by 286.9% in the second quarter. Point72 Hong Kong Ltd now owns 6,001 shares of the business services provider’s stock worth $174,000 after acquiring an additional 4,450 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake 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 worth $213,000 after acquiring an additional 5,099 shares during the last quarter. Finally, Global X Management Co LLC purchased a new stake in shares of Genpact in the second quarter worth $225,000. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

G stock opened at $28.65 on Friday. Genpact Limited has a fifty-two week low of $26.46 and a fifty-two week high of $34.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.86 and a beta of 0.71.

Genpact (NYSE:G) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Genpact had a return on equity of 22.26% and a net margin of 9.31%. The company had revenue of $747.98 million for the quarter, compared to the consensus estimate of $754.93 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. Genpact’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that Genpact Limited will post 1.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 10th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, December 7th. Genpact’s dividend payout ratio is 20.13%.

A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Genpact from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Wells Fargo & Co set a $32.00 price target on Genpact and gave the company a “hold” rating in a report on Wednesday, November 7th. JPMorgan Chase & Co. downgraded Genpact from a “neutral” rating to an “underweight” rating and set a $37.00 price target on the stock. in a report on Tuesday, August 14th. Cowen reaffirmed a “buy” rating and set a $35.00 price target on shares of Genpact in a report on Wednesday, November 7th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $36.00 price target on shares of Genpact in a report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $34.31.

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About Genpact

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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Institutional Ownership by Quarter for Genpact (NYSE:G)

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