Wedge Capital Management L L P NC Acquires 41,251 Shares of Genpact Limited (NYSE:G)

Wedge Capital Management L L P NC raised its holdings in shares of Genpact Limited (NYSE:G) by 40.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,144 shares of the business services provider’s stock after purchasing an additional 41,251 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Genpact worth $5,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Genpact by 1.7% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 120,234 shares of the business services provider’s stock valued at $4,173,000 after purchasing an additional 1,979 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Genpact by 16.0% during the fourth quarter. Lindbrook Capital LLC now owns 3,020 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 416 shares in the last quarter. Flynn Zito Capital Management LLC bought a new stake in shares of Genpact during the fourth quarter valued at approximately $206,000. Scissortail Wealth Management LLC bought a new stake in shares of Genpact during the fourth quarter valued at approximately $575,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Genpact during the fourth quarter valued at approximately $1,122,000. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on G shares. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Genpact in a research report on Friday, February 9th. Citigroup reduced their price target on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday. Mizuho started coverage on shares of Genpact in a research report on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price target for the company. StockNews.com downgraded shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.78.

Genpact Trading Up 0.3 %

NYSE:G opened at $31.76 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37. Genpact Limited has a 12 month low of $29.41 and a 12 month high of $44.63. The company has a market cap of $5.73 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.49 and a beta of 1.07. The company has a 50 day simple moving average of $33.27 and a two-hundred day simple moving average of $34.19.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Genpact had a net margin of 14.10% and a return on equity of 23.19%. Research analysts forecast that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were paid a dividend of $0.153 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, March 8th. This is a boost from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio (DPR) is currently 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.