Genpact Limited (G) Stake Lessened by Engineers Gate Manager LP
Engineers Gate Manager LP decreased its holdings in Genpact Limited (NYSE:G) by 59.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,131 shares of the business services provider’s stock after selling 70,451 shares during the quarter. Engineers Gate Manager LP’s holdings in Genpact Limited were worth $1,312,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Genpact Limited during the first quarter valued at about $110,000. Bronfman E.L. Rothschild L.P. boosted its stake in Genpact Limited by 42.5% during 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 in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Genpact Limited by 85.3% during 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 in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Genpact Limited during the first quarter valued at about $168,000. Finally, Biltmore Wealth Management LLC bought a new position in Genpact Limited during the second quarter valued at about $201,000. 92.16% of the stock is owned by institutional investors.
Shares of Genpact Limited (NYSE:G) opened at 28.34 on Wednesday. Genpact Limited has a one year low of $22.58 and a one year high of $31.93. The stock’s 50 day moving average price is $28.74 and its 200 day moving average price is $26.53. The stock has a market capitalization of $5.47 billion, a P/E ratio of 21.40 and a beta of 0.50.
Genpact Limited (NYSE:G) last announced its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 EPS 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 business had revenue of $670.70 million during the quarter, compared to analysts’ expectations of $642.68 million. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Genpact Limited will post $1.56 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, September 8th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, September 7th. This represents a dividend yield of 0.84%. Genpact Limited’s dividend payout ratio (DPR) is presently 18.05%.
In other Genpact Limited news, CFO Edward J. Fitzpatrick sold 57,934 shares of Genpact Limited stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $28.54, for a total transaction of $1,653,436.36. Following the transaction, the chief financial officer now directly owns 113,520 shares in the company, valued at $3,239,860.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mohit Thukral sold 25,000 shares of Genpact Limited stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $28.37, for a total value of $709,250.00. Following the transaction, the insider now owns 85,305 shares in the company, valued at $2,420,102.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,358,442 shares of company stock valued at $297,475,276. 1.55% of the stock is owned by insiders.
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Several research analysts recently weighed in on the company. Cowen and Company reaffirmed an “outperform” rating and set a $33.00 target price (up previously from $30.00) on shares of Genpact Limited in a research note on Thursday, August 3rd. Wedbush assumed coverage on Genpact Limited in a research note on Thursday, August 3rd. They set a “neutral” rating and a $33.00 target price for the company. Zacks Investment Research raised Genpact Limited from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, August 8th. Deutsche Bank AG raised their target price on Genpact Limited from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets raised their target price on Genpact Limited from $26.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $31.14.
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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