Crossmark Global Holdings Inc. boosted its stake in shares of Genpact Limited (NYSE:G – Free Report) by 22.2% in the third quarter, HoldingsChannel.com reports. The fund owned 523,243 shares of the business services provider’s stock after purchasing an additional 95,036 shares during the period. Crossmark Global Holdings Inc.’s holdings in Genpact were worth $21,919,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Genpact by 19.7% in the 1st quarter. Royal Bank of Canada now owns 121,705 shares of the business services provider’s stock valued at $6,131,000 after purchasing an additional 20,043 shares during the last quarter. Amundi purchased a new stake in shares of Genpact during the first quarter worth $58,000. Goldman Sachs Group Inc. raised its position in shares of Genpact by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 353,074 shares of the business services provider’s stock valued at $17,788,000 after buying an additional 60,887 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Genpact by 12.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 511,627 shares of the business services provider’s stock valued at $25,776,000 after buying an additional 56,557 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Genpact by 10.3% in the first quarter. Focus Partners Wealth now owns 5,227 shares of the business services provider’s stock worth $263,000 after buying an additional 488 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.
Genpact Stock Performance
NYSE:G opened at $41.71 on Friday. Genpact Limited has a 52 week low of $34.79 and a 52 week high of $52.03. The company has a fifty day simple moving average of $42.84 and a two-hundred day simple moving average of $43.08. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.46. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.20 and a beta of 0.75.
Genpact Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.1875 dividend. This is a positive change from Genpact’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.8%. Genpact’s payout ratio is 21.73%.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Genpact in a research note on Friday, December 26th. Mizuho reduced their price objective on Genpact from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Susquehanna set a $42.00 target price on Genpact in a report on Friday, February 6th. Needham & Company LLC cut their target price on Genpact from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Finally, Wall Street Zen raised shares of Genpact from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.29.
Check Out Our Latest Stock Report on G
Insider Activity at Genpact
In related news, SVP Riju Vashisht sold 16,016 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $46.65, for a total transaction of $747,146.40. Following the transaction, the senior vice president owned 95,521 shares of the company’s stock, valued at $4,456,054.65. This represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Balkrishan Kalra sold 2,800 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $40.77, for a total transaction of $114,156.00. Following the transaction, the chief executive officer directly owned 525,007 shares in the company, valued at approximately $21,404,535.39. This trade represents a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,904 shares of company stock worth $1,565,158 in the last three months. Insiders own 3.07% of the company’s stock.
Genpact Company Profile
Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.
Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.
Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.
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