First Trust Advisors LP boosted its holdings in shares of Genpact Limited (NYSE:G) by 128.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 503,075 shares of the business services provider’s stock after purchasing an additional 282,515 shares during the quarter. First Trust Advisors LP’s holdings in Genpact were worth $15,968,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Barings LLC purchased a new position in Genpact during the 4th quarter worth approximately $657,000. California Public Employees Retirement System increased its holdings in shares of Genpact by 5.7% during the 4th quarter. California Public Employees Retirement System now owns 480,516 shares of the business services provider’s stock valued at $15,252,000 after purchasing an additional 25,933 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Genpact by 22.9% during the 4th quarter. M&T Bank Corp now owns 14,914 shares of the business services provider’s stock valued at $473,000 after purchasing an additional 2,775 shares in the last quarter. Comerica Bank increased its holdings in shares of Genpact by 8.2% during the 4th quarter. Comerica Bank now owns 66,168 shares of the business services provider’s stock valued at $2,261,000 after purchasing an additional 5,028 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Genpact by 13.3% during the 4th quarter. Victory Capital Management Inc. now owns 97,943 shares of the business services provider’s stock valued at $3,109,000 after purchasing an additional 11,505 shares in the last quarter. 94.18% of the stock is owned by institutional investors.
Shares of Genpact Limited (NYSE G) opened at $31.63 on Tuesday. Genpact Limited has a one year low of $23.34 and a one year high of $34.79. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.77. The stock has a market cap of $6,168.48, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Friday, March 9th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, March 8th. This is a boost from Genpact’s previous quarterly dividend of $0.06. Genpact’s payout ratio is 17.91%.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Genpact from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 price target on shares of Genpact in a report on Wednesday, November 8th. Citigroup cut their price target on shares of Genpact from $39.00 to $37.50 and set a “buy” rating for the company in a report on Tuesday, February 13th. Robert W. Baird reissued a “buy” rating and issued a $38.00 price target on shares of Genpact in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Genpact from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Genpact currently has a consensus rating of “Buy” and a consensus price target of $34.65.
In other news, insider N. V. Tyagarajan sold 77,619 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $32.23, for a total transaction of $2,501,660.37. Following the transaction, the insider now owns 244,755 shares of the company’s stock, valued at approximately $7,888,453.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Arvinder Singh sold 22,855 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $32.23, for a total transaction of $736,616.65. Following the transaction, the senior vice president now directly owns 37,623 shares in the company, valued at approximately $1,212,589.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,434 shares of company stock worth $4,140,631. 1.41% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding G? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genpact Limited (NYSE:G).
Receive News & Ratings for Genpact Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genpact and related companies with MarketBeat.com's FREE daily email newsletter.