Genpact Limited (NYSE:G) Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of Genpact Limited (NYSE:GGet Rating) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 611,763 shares of the business services provider’s stock after selling 7,662 shares during the period. Principal Financial Group Inc.’s holdings in Genpact were worth $32,472,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Genpact in the 4th quarter worth approximately $58,856,000. Panagora Asset Management Inc. grew its stake in shares of Genpact by 3.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 464,972 shares of the business services provider’s stock worth $22,091,000 after purchasing an additional 14,712 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Genpact by 10.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 2,379,739 shares of the business services provider’s stock worth $113,062,000 after purchasing an additional 226,899 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Genpact by 4.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 291,975 shares of the business services provider’s stock worth $13,872,000 after purchasing an additional 12,616 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in shares of Genpact in the 4th quarter worth approximately $85,000. Institutional investors own 95.82% of the company’s stock.

A number of equities research analysts have recently issued reports on G shares. Citigroup cut their price target on shares of Genpact from $62.00 to $55.00 in a report on Monday, February 14th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Genpact from $55.00 to $48.00 in a report on Friday, May 6th. Cowen lowered shares of Genpact from an “outperform” rating to a “market perform” rating and cut their price target for the company from $57.00 to $51.00 in a report on Monday, February 14th. StockNews.com lowered shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group started coverage on shares of Genpact in a report on Wednesday, January 26th. They set a “hold” rating and a $54.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Genpact currently has a consensus rating of “Buy” and a consensus target price of $55.71.

Genpact stock opened at $43.06 on Friday. The firm has a market cap of $7.97 billion, a PE ratio of 22.08, a P/E/G ratio of 1.44 and a beta of 1.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.43. The firm’s 50 day moving average price is $42.31 and its two-hundred day moving average price is $46.85. Genpact Limited has a twelve month low of $37.68 and a twelve month high of $54.03.

Genpact (NYSE:GGet Rating) last released its quarterly earnings data on Thursday, May 5th. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Genpact had a net margin of 9.03% and a return on equity of 24.48%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Equities analysts anticipate that Genpact Limited will post 2.34 EPS for the current fiscal year.

Genpact Profile (Get Rating)

Genpact Limited provides business process outsourcing and information technology (IT) services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Banking, Capital Markets and Insurance; Consumer Goods, Retail, Life Sciences and Healthcare; and High Tech, Manufacturing and Services.

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Institutional Ownership by Quarter for Genpact (NYSE:G)

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