Schwab Charles Investment Management Inc. Raises Stake in Genpact Limited (G)
Schwab Charles Investment Management Inc. boosted its stake in shares of Genpact Limited (NYSE:G) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 757,228 shares of the business services provider’s stock after buying an additional 62,963 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.39% of Genpact Limited worth $18,749,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Genpact Limited by 2,636.7% in the first quarter. BlackRock Inc. now owns 7,680,410 shares of the business services provider’s stock valued at $190,169,000 after buying an additional 7,399,767 shares in the last quarter. Norges Bank bought a new stake in shares of Genpact Limited during the fourth quarter valued at about $32,718,000. Renaissance Technologies LLC bought a new stake in shares of Genpact Limited during the first quarter valued at about $19,870,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Genpact Limited during the first quarter valued at about $19,515,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Genpact Limited during the first quarter valued at about $19,515,000. 94.01% of the stock is currently owned by institutional investors.
Genpact Limited (G) traded down 2.10% during midday trading on Friday, hitting $29.36. The stock had a trading volume of 913,991 shares. The stock has a market cap of $5.66 billion, a P/E ratio of 22.18 and a beta of 0.50. Genpact Limited has a 12-month low of $22.58 and a 12-month high of $30.14. The company’s 50-day moving average price is $27.97 and its 200 day moving average price is $25.67.
Genpact Limited (NYSE:G) last announced its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The company had revenue of $670.70 million during the quarter, compared to analysts’ expectations of $642.68 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that Genpact Limited will post $1.56 earnings per share for the current fiscal year.
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G has been the topic of several recent analyst reports. Zacks Investment Research upgraded Genpact Limited from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Friday, April 14th. BidaskClub upgraded Genpact Limited from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Deutsche Bank AG increased their target price on Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday. BMO Capital Markets increased their target price on Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Wedbush began coverage on Genpact Limited in a research report on Thursday. They set a “neutral” rating and a $33.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.67.
In related news, insider Mohit Thukral sold 27,228 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $27.21, for a total transaction of $740,873.88. Following the completion of the transaction, the insider now owns 68,845 shares of the company’s stock, valued at approximately $1,873,272.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Madden sold 5,224 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $25.51, for a total value of $133,264.24. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $228,824.70. The disclosure for this sale can be found here. 1.55% of the stock is owned by insiders.
Genpact Limited 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.
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