Genpact Limited (G) Position Decreased by Pitcairn Co.
Pitcairn Co. cut its stake in shares of Genpact Limited (NYSE:G) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 68,863 shares of the business services provider’s stock after selling 439 shares during the period. Pitcairn Co.’s holdings in Genpact Limited were worth $1,916,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Genpact Limited by 2,636.7% in the first quarter. BlackRock Inc. now owns 7,680,410 shares of the business services provider’s stock worth $190,169,000 after buying an additional 7,399,767 shares in the last quarter. Hahn Capital Management LLC raised its stake in shares of Genpact Limited by 2,613.3% in the first quarter. Hahn Capital Management LLC now owns 933,386 shares of the business services provider’s stock worth $23,111,000 after buying an additional 898,986 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Genpact Limited during the first quarter worth $19,870,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Genpact Limited during the first quarter worth $19,515,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Genpact Limited during the first quarter worth $19,515,000. Institutional investors own 94.08% of the company’s stock.
Shares of Genpact Limited (G) opened at 29.32 on Friday. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 22.15 and a beta of 0.50. The company’s 50-day moving average price is $28.45 and its 200-day moving average price is $25.94. Genpact Limited has a 12 month low of $22.58 and a 12 month high of $31.93.
Genpact Limited (NYSE:G) last announced its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The firm had revenue of $670.70 million for the quarter, compared to analysts’ expectations of $642.68 million. During the same period last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts anticipate that Genpact Limited will post $1.56 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This report was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/genpact-limited-g-position-decreased-by-pitcairn-co/1478782.html.
G has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, August 3rd. BidaskClub upgraded Genpact Limited from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded Genpact Limited from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Friday, April 14th. Wedbush restated an “outperform” rating and set a $33.00 price objective on shares of Genpact Limited in a research report on Wednesday. Finally, Cowen and Company restated an “outperform” rating and set a $33.00 price objective (up previously from $30.00) on shares of Genpact Limited in a research report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Genpact Limited currently has an average rating of “Buy” and a consensus target price of $30.67.
In related news, insider Mohit Thukral sold 27,228 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $27.21, for a total value of $740,873.88. Following the sale, the insider now directly owns 68,845 shares of the company’s stock, valued at $1,873,272.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.55% of the stock is owned by company insiders.
Genpact Limited Company Profile
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
Want to see what other hedge funds are holding G? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genpact Limited (NYSE:G).
Receive News & Ratings for Genpact Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genpact Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.