Rhumbline Advisers Sells 9,054 Shares of Genpact Limited (G)
Rhumbline Advisers lowered its stake in shares of Genpact Limited (NYSE:G) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,567 shares of the business services provider’s stock after selling 9,054 shares during the period. Rhumbline Advisers owned 0.10% of Genpact Limited worth $5,164,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in G. SG Americas Securities LLC bought a new position in shares of Genpact Limited during the first quarter valued at approximately $110,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Genpact Limited by 42.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,959 shares of the business services provider’s stock valued at $123,000 after buying an additional 1,480 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Genpact Limited by 85.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,220 shares of the business services provider’s stock valued at $129,000 after buying an additional 2,403 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Genpact Limited during the first quarter valued at approximately $168,000. Finally, Biltmore Wealth Management LLC bought a new position in shares of Genpact Limited during the second quarter valued at approximately $201,000. 92.16% of the stock is currently owned by institutional investors.
Genpact Limited (NYSE G) opened at 28.45 on Friday. Genpact Limited has a 52-week low of $22.58 and a 52-week high of $31.93. The stock has a 50 day moving average price of $28.73 and a 200 day moving average price of $26.32. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 21.49 and a beta of 0.50.
Genpact Limited (NYSE:G) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.10. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. The business had revenue of $670.70 million during the quarter, compared to analyst estimates of $642.68 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that Genpact Limited will post $1.56 earnings per share for the current year.
The firm also recently declared a special dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 8th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a yield of 0.84%. Genpact Limited’s payout ratio is 18.05%.
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Several research analysts have commented on G shares. Zacks Investment Research raised Genpact Limited from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $33.00 target price on shares of Genpact Limited in a report on Wednesday, August 9th. BidaskClub raised Genpact Limited from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Cowen and Company reaffirmed an “outperform” rating and set a $33.00 target price (up from $30.00) on shares of Genpact Limited in a report on Thursday, August 3rd. Finally, Deutsche Bank AG lifted their target price on Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.14.
In other news, major shareholder Bain Capital Investors Llc sold 8,498,874 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $28.72, for a total transaction of $244,087,661.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohit Thukral sold 25,000 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $28.37, for a total transaction of $709,250.00. Following the sale, the insider now owns 85,305 shares of the company’s stock, valued at $2,420,102.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,358,442 shares of company stock valued at $297,475,276. 1.55% of the stock is currently owned by company 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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