Verition Fund Management LLC Takes Position in Genpact Limited (G)
Verition Fund Management LLC purchased a new position in Genpact Limited (NYSE:G) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,434 shares of the business services provider’s stock, valued at approximately $880,000.
A number of other hedge funds have also made changes to their positions in G. SG Americas Securities LLC lifted its stake in Genpact by 61.1% in the first quarter. SG Americas Securities LLC now owns 15,118 shares of the business services provider’s stock worth $484,000 after acquiring an additional 5,733 shares during the period. Neuberger Berman Group LLC lifted its stake in Genpact by 88.3% in the first quarter. Neuberger Berman Group LLC now owns 27,400 shares of the business services provider’s stock worth $877,000 after acquiring an additional 12,846 shares during the period. Northern Trust Corp lifted its position in Genpact by 2.7% during the first quarter. Northern Trust Corp now owns 935,611 shares of the business services provider’s stock valued at $29,930,000 after buying an additional 24,474 shares during the period. BlackRock Inc. lifted its position in Genpact by 6.2% during the first quarter. BlackRock Inc. now owns 13,560,279 shares of the business services provider’s stock valued at $433,794,000 after buying an additional 788,239 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in Genpact by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 35,376 shares of the business services provider’s stock valued at $1,131,000 after buying an additional 1,805 shares during the period. 88.24% of the stock is owned by institutional investors.
In other news, Director Carol Lindstrom sold 2,630 shares of Genpact stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $30.44, for a total value of $80,057.20. Following the completion of the transaction, the director now owns 17,141 shares of the company’s stock, valued at approximately $521,772.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Heather White sold 1,367 shares of Genpact stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $31.00, for a total value of $42,377.00. The disclosure for this sale can be found here. 1.88% of the stock is owned by insiders.
Shares of Genpact stock opened at $30.84 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.76. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.98 and a beta of 0.53. Genpact Limited has a 12 month low of $28.09 and a 12 month high of $34.79.
Genpact (NYSE:G) last posted its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $728.56 million during the quarter, compared to analyst estimates of $734.51 million. Genpact had a return on equity of 22.15% and a net margin of 9.44%. sell-side analysts anticipate that Genpact Limited will post 1.56 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Monday, September 10th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, September 7th. Genpact’s dividend payout ratio is presently 20.13%.
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; over-the counter 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.
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