New York State Common Retirement Fund Has $21.77 Million Stake in Genpact Limited (G)
New York State Common Retirement Fund lifted its stake in Genpact Limited (NYSE:G) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757,181 shares of the business services provider’s stock after acquiring an additional 131,159 shares during the period. New York State Common Retirement Fund owned approximately 0.39% of Genpact worth $21,769,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Genpact by 40.1% during the second quarter. BlackRock Inc. now owns 10,761,151 shares of the business services provider’s stock valued at $299,483,000 after buying an additional 3,080,741 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Genpact by 2,300.3% during the second quarter. UBS Asset Management Americas Inc. now owns 832,103 shares of the business services provider’s stock valued at $23,157,000 after buying an additional 797,436 shares during the period. Eaton Vance Management boosted its stake in Genpact by 185.4% during the second quarter. Eaton Vance Management now owns 856,429 shares of the business services provider’s stock valued at $23,834,000 after buying an additional 556,323 shares during the period. Schroder Investment Management Group boosted its stake in Genpact by 36.9% during the second quarter. Schroder Investment Management Group now owns 1,294,338 shares of the business services provider’s stock valued at $36,099,000 after buying an additional 348,626 shares during the period. Finally, Marathon Asset Management LLP boosted its stake in Genpact by 27.7% during the third quarter. Marathon Asset Management LLP now owns 1,356,597 shares of the business services provider’s stock valued at $39,002,000 after buying an additional 293,931 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.
G has been the subject of several research analyst reports. Cowen set a $33.00 price objective on Genpact and gave the company a “buy” rating in a research note on Tuesday, August 15th. BidaskClub lowered Genpact from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 16th. Robert W. Baird reissued an “outperform” rating and set a $34.00 price objective on shares of Genpact in a research note on Wednesday, August 16th. Cantor Fitzgerald restated a “buy” rating and set a $32.00 price target on shares of Genpact in a research report on Wednesday, September 13th. Finally, Zacks Investment Research downgraded Genpact from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Genpact presently has a consensus rating of “Buy” and a consensus target price of $33.38.
Shares of Genpact Limited (NYSE G) opened at $32.18 on Wednesday. Genpact Limited has a 12-month low of $23.34 and a 12-month high of $32.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market capitalization of $6,200.52, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.58.
Genpact (NYSE:G) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.10. Genpact had a return on equity of 23.86% and a net margin of 10.18%. The business had revenue of $708.82 million for the quarter, compared to the consensus estimate of $685.25 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. equities research analysts forecast that Genpact Limited will post 1.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.75%. Genpact’s payout ratio is 17.39%.
In other news, insider Private Ltd Gic sold 1,499,806 shares of Genpact stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $30.26, for a total value of $45,384,129.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Piyush Mehta sold 12,500 shares of Genpact stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $32.00, for a total value of $400,000.00. Following the completion of the transaction, the senior vice president now owns 77,944 shares in the company, valued at approximately $2,494,208. The disclosure for this sale can be found here. Insiders have sold 1,652,670 shares of company stock worth $50,241,407 in the last 90 days. Company insiders own 1.41% of the company’s stock.
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Genpact 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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