Genpact Limited (NYSE:G) Stake Lowered by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC decreased its stake in Genpact Limited (NYSE:G) by 80.7% during the second quarter, Holdings Channel reports. The firm owned 13,506 shares of the business services provider’s stock after selling 56,434 shares during the period. Stoneridge Investment Partners LLC’s holdings in Genpact Limited were worth $376,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in 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 during the last quarter. Hahn Capital Management LLC raised its position in 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 during the last quarter. Renaissance Technologies LLC acquired a new position in Genpact Limited during the first quarter worth $19,870,000. MARSHALL WACE ASIA Ltd acquired a new position in Genpact Limited during the first quarter worth $19,515,000. Finally, Marshall Wace North America L.P. acquired a new position in Genpact Limited during the first quarter worth $19,515,000. 94.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Genpact Limited (NYSE G) opened at 29.32 on Friday. The company has a market capitalization of $5.65 billion, a P/E ratio of 22.15 and a beta of 0.50. The company has a 50-day moving average price of $28.45 and a 200 day moving average price of $25.94. Genpact Limited has a 1-year low of $22.58 and a 1-year high of $31.93.
Genpact Limited (NYSE:G) last issued its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. The company had revenue of $670.70 million during the quarter, compared to the consensus estimate of $642.68 million. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. Genpact Limited’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. Equities research analysts anticipate that Genpact Limited will post $1.56 EPS for the current year.
A number of research analysts recently weighed in on the company. Cowen and Company reissued an “outperform” rating and set a $33.00 target price (up from $30.00) on shares of Genpact Limited in a report on Thursday, August 3rd. Wedbush assumed coverage on Genpact Limited in a report on Thursday, August 3rd. They set a “neutral” rating and a $33.00 target price on the stock. Zacks Investment Research raised Genpact Limited from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday. BMO Capital Markets boosted their target price on Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, August 3rd. Finally, Deutsche Bank AG boosted their target price on Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Genpact Limited currently has a consensus rating of “Buy” and a consensus price target of $30.67.
In other Genpact Limited news, insider Mohit Thukral sold 27,228 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $27.21, for a total value of $740,873.88. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.55% of the company’s stock.
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.
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