Genpact Limited $G Position Boosted by Ballast Asset Management LP

Ballast Asset Management LP increased its position in Genpact Limited (NYSE:G) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,556 shares of the business services provider’s stock after purchasing an additional 19,230 shares during the quarter. Genpact makes up 2.0% of Ballast Asset Management LP’s portfolio, making the stock its 21st biggest position. Ballast Asset Management LP owned 0.08% of Genpact worth $4,507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Leuthold Group LLC acquired a new position in Genpact during the 3rd quarter valued at about $438,000. Parallel Advisors LLC boosted its stake in shares of Genpact by 30.9% in the 3rd quarter. Parallel Advisors LLC now owns 5,747 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 1,358 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Genpact by 22.1% in the 3rd quarter. Alps Advisors Inc. now owns 15,931 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 2,882 shares during the last quarter. CenterBook Partners LP grew its position in shares of Genpact by 209.9% during the 3rd quarter. CenterBook Partners LP now owns 29,427 shares of the business services provider’s stock worth $957,000 after buying an additional 19,932 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Genpact during the 3rd quarter worth approximately $455,000. 96.03% of the stock is owned by institutional investors.

Insider Transactions at Genpact

In related news, SVP Anil Nanduru sold 6,191 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $37.03, for a total transaction of $229,252.73. Following the completion of the transaction, the senior vice president owned 70,253 shares in the company, valued at approximately $2,601,468.59. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on G. Citigroup boosted their price target on shares of Genpact from $36.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday. Needham & Company LLC raised their price objective on shares of Genpact from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of Genpact from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Susquehanna lifted their target price on shares of Genpact from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday. Finally, TD Cowen upped their target price on shares of Genpact from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Genpact has an average rating of “Hold” and an average price target of $41.89.

Genpact Price Performance

Shares of G opened at $42.62 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.44. Genpact Limited has a 1 year low of $26.85 and a 1 year high of $48.64. The stock has a market cap of $7.13 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.08 and a beta of 0.53. The stock’s 50-day moving average price is $36.62 and its two-hundred day moving average price is $35.51.

Genpact (NYSE:G) last posted its earnings results on Thursday, November 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. Genpact had a return on equity of 23.34% and a net margin of 11.04%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 EPS. On average, equities analysts predict that Genpact Limited will post 3.66 earnings per share for the current year.

Genpact Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Thursday, December 10th will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, December 10th. This represents a $0.75 dividend on an annualized basis and a yield of 1.8%. Genpact’s payout ratio is currently 21.87%.

About Genpact

Genpact is a global professional services company that helps businesses improve operations and pursue digital transformation. Its services include business process management, consulting, data and analytics, artificial intelligence, and technology implementation.

The company works with clients across industries such as banking and financial services, insurance, consumer goods, healthcare, life sciences, manufacturing, and technology. It serves organizations around the world through its global operations.

Genpact began in 1997 as a business services operation within GE Capital and became an independent company in 2005.