Kingsview Wealth Management LLC Lowers Stake in Genpact Limited (NYSE:G)

Kingsview Wealth Management LLC reduced its holdings in shares of Genpact Limited (NYSE:G) by 24.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,661 shares of the business services provider’s stock after selling 63,770 shares during the period. Kingsview Wealth Management LLC’s holdings in Genpact were worth $10,059,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Verdence Capital Advisors LLC lifted its position in Genpact by 5.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 9,565 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 509 shares during the period. CWM LLC raised its holdings in Genpact by 85.5% in the first quarter. CWM LLC now owns 2,514 shares of the business services provider’s stock worth $127,000 after buying an additional 1,159 shares during the last quarter. Stephens Inc. AR raised its holdings in Genpact by 5.2% in the first quarter. Stephens Inc. AR now owns 64,826 shares of the business services provider’s stock worth $3,266,000 after buying an additional 3,183 shares during the last quarter. Xponance Inc. raised its holdings in Genpact by 3.7% in the first quarter. Xponance Inc. now owns 20,295 shares of the business services provider’s stock worth $1,022,000 after buying an additional 729 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in Genpact by 7.1% in the first quarter. Alps Advisors Inc. now owns 431,767 shares of the business services provider’s stock worth $21,752,000 after buying an additional 28,511 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Genpact Stock Performance

Shares of G stock opened at $44.87 on Thursday. The company has a 50 day moving average price of $43.63 and a 200-day moving average price of $47.06. Genpact Limited has a 52 week low of $32.18 and a 52 week high of $56.76. The firm has a market capitalization of $7.85 billion, a PE ratio of 15.31, a P/E/G ratio of 1.92 and a beta of 0.94. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.48.

Genpact (NYSE:G) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, September 11th. This represents a $0.68 annualized dividend and a yield of 1.52%. Genpact’s dividend payout ratio (DPR) is 23.21%.

Analyst Ratings Changes

Several brokerages have issued reports on G. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Genpact in a report on Monday, June 30th. Wall Street Zen raised shares of Genpact from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Robert W. Baird decreased their target price on shares of Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Finally, Mizuho lifted their target price on shares of Genpact from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.14.

Insider Transactions at Genpact

In other Genpact news, Director Nicholas C. Gangestad bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at $87,940. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.07% of the company’s stock.

Genpact Profile

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.