Geode Capital Management LLC increased its holdings in Genpact Limited (NYSE:G) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360,061 shares of the business services provider’s stock after buying an additional 65,798 shares during the quarter. Geode Capital Management LLC’s holdings in Genpact were worth $36,708,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Bremer Trust National Association bought a new position in Genpact during the 4th quarter valued at $36,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Genpact during the 4th quarter valued at $162,000. Quantamental Technologies LLC bought a new stake in shares of Genpact during the 4th quarter worth $164,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Genpact by 8.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,922 shares of the business services provider’s stock worth $214,000 after acquiring an additional 607 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Genpact during the 4th quarter worth $243,000. 93.97% of the stock is owned by institutional investors and hedge funds.

G has been the subject of several research reports. Cantor Fitzgerald reissued a “buy” rating and set a $36.00 price objective on shares of Genpact in a research note on Sunday, March 3rd. Bank of America raised Genpact from an “underperform” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, February 6th. ValuEngine upgraded Genpact from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Zacks Investment Research upgraded Genpact from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Co upgraded Genpact from a “market perform” rating to an “outperform” rating and set a $33.25 target price for the company in a report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Genpact currently has a consensus rating of “Buy” and an average price target of $33.97.

In other news, insider N. V. Tyagarajan sold 150,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $35.37, for a total value of $5,305,500.00. Following the sale, the insider now directly owns 633,891 shares of the company’s stock, valued at $22,420,724.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Bain Capital Investors Llc sold 8,500,194 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $36.01, for a total value of $306,091,985.94. The disclosure for this sale can be found here. Insiders have sold 10,283,625 shares of company stock worth $370,209,319 over the last three months. Company insiders own 1.86% of the company’s stock.

G opened at $35.98 on Tuesday. The firm has a market capitalization of $6.88 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.98 and a beta of 0.82. Genpact Limited has a 12-month low of $25.48 and a 12-month high of $37.70. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.82.

Genpact (NYSE:G) last posted its earnings results on Thursday, May 2nd. The business services provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The firm had revenue of $809.21 million for the quarter, compared to the consensus estimate of $764.50 million. Genpact had a net margin of 8.91% and a return on equity of 22.33%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Sell-side analysts anticipate that Genpact Limited will post 1.71 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 0.94%. The ex-dividend date is Tuesday, June 11th. Genpact’s payout ratio is 21.25%.

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Genpact 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; invoice-to-cash 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.

Further Reading: Economic Reports

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Institutional Ownership by Quarter for Genpact (NYSE:G)

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