Visionary Asset Management Inc. Acquires New Holdings in Genpact Limited (G)
Visionary Asset Management Inc. acquired a new stake in shares of Genpact Limited (NYSE:G) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,071 shares of the business services provider’s stock, valued at approximately $232,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brown Advisory Inc. grew its holdings in Genpact by 2.0% during the third quarter. Brown Advisory Inc. now owns 12,598,190 shares of the business services provider’s stock valued at $362,198,000 after purchasing an additional 247,088 shares during the period. BlackRock Inc. grew its holdings 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 purchasing an additional 3,080,741 shares during the period. Pzena Investment Management LLC grew its holdings in Genpact by 1.5% during the second quarter. Pzena Investment Management LLC now owns 2,670,064 shares of the business services provider’s stock valued at $74,308,000 after purchasing an additional 38,353 shares during the period. Schroder Investment Management Group grew its holdings in Genpact by 25.5% during the third quarter. Schroder Investment Management Group now owns 1,624,084 shares of the business services provider’s stock valued at $46,497,000 after purchasing an additional 329,746 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Genpact by 16.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,605,018 shares of the business services provider’s stock valued at $44,668,000 after purchasing an additional 221,046 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Genpact Limited (G) opened at $32.22 on Friday. The firm has a market cap of $6,187.01, a P/E ratio of 20.81, a PEG ratio of 2.19 and a beta of 0.58. Genpact Limited has a 1-year low of $23.34 and a 1-year high of $32.65. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.77.
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 Thomson Reuters’ consensus estimate of $0.36 by $0.10. The company had revenue of $708.82 million during the quarter, compared to analysts’ expectations of $685.25 million. Genpact had a net margin of 10.18% and a return on equity of 23.86%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. sell-side analysts expect that Genpact Limited will post 1.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Friday, December 8th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, December 7th. Genpact’s dividend payout ratio (DPR) is presently 17.39%.
A number of research analysts recently issued reports on the stock. Robert W. Baird restated a “buy” rating and set a $38.00 price objective on shares of Genpact in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Genpact from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a report on Friday, November 10th. Cantor Fitzgerald reiterated a “buy” rating and issued a $36.00 price target on shares of Genpact in a report on Wednesday, November 8th. Cowen reiterated a “buy” rating and issued a $33.00 price target on shares of Genpact in a report on Thursday, October 12th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $34.00 price target on shares of Genpact in a report on Monday, October 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $33.38.
In other news, insider N. V. Tyagarajan sold 77,619 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $32.23, for a total value of $2,501,660.37. Following the sale, the insider now owns 244,755 shares of the company’s stock, valued at $7,888,453.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Piyush Mehta sold 12,500 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $32.00, for a total transaction of $400,000.00. Following the completion of the sale, the senior vice president now directly owns 77,944 shares in the company, valued at approximately $2,494,208. The disclosure for this sale can be found here. Insiders sold 1,652,670 shares of company stock valued at $50,241,407 in the last quarter. Corporate insiders own 1.41% of the company’s stock.
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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