Bahl & Gaynor Inc. Sells 447,710 Shares of Genpact Limited (NYSE:G)

Bahl & Gaynor Inc. lessened its position in shares of Genpact Limited (NYSE:G) by 80.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,119 shares of the business services provider’s stock after selling 447,710 shares during the period. Bahl & Gaynor Inc. owned approximately 0.06% of Genpact worth $3,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in Genpact by 8.1% during the 3rd quarter. FMR LLC now owns 17,644,694 shares of the business services provider’s stock worth $638,738,000 after purchasing an additional 1,327,435 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Genpact by 18.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,948,433 shares of the business services provider’s stock worth $106,733,000 after purchasing an additional 452,612 shares in the last quarter. Nordea Investment Management AB increased its position in Genpact by 14.8% during the 3rd quarter. Nordea Investment Management AB now owns 2,484,781 shares of the business services provider’s stock worth $91,664,000 after purchasing an additional 321,032 shares in the last quarter. Causeway Capital Management LLC increased its position in Genpact by 7.2% during the 3rd quarter. Causeway Capital Management LLC now owns 2,159,210 shares of the business services provider’s stock worth $78,163,000 after purchasing an additional 144,611 shares in the last quarter. Finally, Northern Trust Corp increased its position in Genpact by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,251,019 shares of the business services provider’s stock worth $45,287,000 after purchasing an additional 4,684 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on G. JPMorgan Chase & Co. upped their price target on shares of Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Mizuho began coverage on shares of Genpact in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $40.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Genpact in a research report on Friday, February 9th. StockNews.com cut shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Citigroup reduced their price objective on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Genpact currently has an average rating of “Hold” and a consensus target price of $39.78.

Genpact Stock Performance

Shares of G stock opened at $30.90 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a 50-day moving average of $33.07 and a 200-day moving average of $34.12. The company has a market cap of $5.57 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.44 and a beta of 1.07. Genpact Limited has a one year low of $29.41 and a one year high of $44.63.

Genpact (NYSE:G) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Genpact had a net margin of 14.10% and a return on equity of 23.19%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts forecast that Genpact Limited will post 2.7 EPS for the current fiscal year.

Genpact Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Monday, March 11th were paid a $0.153 dividend. This is a boost from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.61 dividend on an annualized basis and a yield of 1.98%. Genpact’s payout ratio is presently 17.78%.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.