Oppenheimer Asset Management Inc. lessened its holdings in shares of Genpact Limited (NYSE:G) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,871 shares of the business services provider’s stock after selling 1,028 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Genpact Limited were worth $942,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of G. Bronfman E.L. Rothschild L.P. grew its stake in Genpact Limited by 1.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,053 shares of the business services provider’s stock worth $141,000 after buying an additional 94 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Genpact Limited during the 2nd quarter worth approximately $565,000. Intrust Bank NA grew its stake in Genpact Limited by 27.7% during the 2nd quarter. Intrust Bank NA now owns 21,077 shares of the business services provider’s stock worth $587,000 after buying an additional 4,575 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in Genpact Limited during the 2nd quarter worth approximately $220,000. Finally, Victory Capital Management Inc. grew its stake in Genpact Limited by 21.3% during the 2nd quarter. Victory Capital Management Inc. now owns 78,468 shares of the business services provider’s stock worth $2,184,000 after buying an additional 13,762 shares during the last quarter. 92.16% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the company. Cowen and Company set a $33.00 price target on Genpact Limited and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Zacks Investment Research upgraded Genpact Limited from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Tuesday, August 8th. Robert W. Baird restated an “outperform” rating and set a $34.00 price target on shares of Genpact Limited in a research note on Wednesday, August 16th. BidaskClub downgraded Genpact Limited from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Genpact Limited in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $31.14.
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Shares of Genpact Limited (G) opened at 28.19 on Tuesday. Genpact Limited has a 12-month low of $22.58 and a 12-month high of $31.93. The stock has a 50 day moving average price of $28.76 and a 200 day moving average price of $26.52. The firm has a market capitalization of $5.44 billion, a PE ratio of 21.29 and a beta of 0.50.
Genpact Limited (NYSE:G) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.10. The company had revenue of $670.70 million during the quarter, compared to analyst estimates of $642.68 million. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Analysts predict that Genpact Limited will post $1.56 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, September 8th will be issued a $0.06 dividend. This represents a yield of 0.84%. The ex-dividend date is Thursday, September 7th. Genpact Limited’s dividend payout ratio (DPR) is 18.05%.
In related news, CFO Edward J. Fitzpatrick sold 57,934 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $28.54, for a total value of $1,653,436.36. Following the completion of the transaction, the chief financial officer now directly owns 113,520 shares of the company’s stock, valued at approximately $3,239,860.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Thukral sold 25,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $28.37, for a total value of $709,250.00. Following the completion of the transaction, the insider now directly owns 85,305 shares of the company’s stock, valued at $2,420,102.85. The disclosure for this sale can be found here. Insiders sold a total of 10,358,442 shares of company stock valued at $297,475,276 over the last three months. Corporate insiders own 1.55% of the company’s stock.
About Genpact Limited
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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