BNP Paribas Arbitrage SA Boosts Stake in Genpact Limited (G)
BNP Paribas Arbitrage SA increased its holdings in Genpact Limited (NYSE:G) by 454.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,319 shares of the business services provider’s stock after buying an additional 20,753 shares during the period. BNP Paribas Arbitrage SA’s holdings in Genpact were worth $728,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of G. YorkBridge Wealth Partners LLC lifted its position in Genpact by 5.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 189 shares during the last quarter. Acrospire Investment Management LLC lifted its position in Genpact by 569.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 3,419 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Genpact in the 3rd quarter valued at about $128,000. Bronfman E.L. Rothschild L.P. lifted its position in Genpact by 1.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,053 shares of the business services provider’s stock valued at $141,000 after purchasing an additional 94 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Genpact by 27.0% in the 2nd quarter. SG Americas Securities LLC now owns 5,642 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 1,200 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.
G has been the topic of a number of recent analyst reports. Robert W. Baird restated a “buy” rating and set a $38.00 price target on shares of Genpact in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Genpact from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research report on Friday, November 10th. Cantor Fitzgerald restated a “buy” rating and set a $36.00 price target on shares of Genpact in a research report on Wednesday, November 8th. Cowen restated a “buy” rating and set a $33.00 price target on shares of Genpact in a research report on Thursday, October 12th. Finally, SunTrust Banks restated a “buy” rating and set a $34.00 price target on shares of Genpact in a research report on Monday, October 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Genpact currently has an average rating of “Buy” and a consensus price target of $33.38.
Genpact (NYSE:G) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. Genpact had a net margin of 10.18% and a return on equity of 23.86%. The company had revenue of $708.82 million for the quarter, compared to the consensus estimate of $685.25 million. During the same period in the previous year, the firm earned $0.37 EPS. Genpact’s revenue was up 9.3% on a year-over-year basis. sell-side analysts anticipate that Genpact Limited will post 1.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 8th will be issued a $0.06 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.74%. Genpact’s payout ratio is currently 17.39%.
In related news, SVP Piyush Mehta sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $32.00, for a total value of $400,000.00. Following the sale, the senior vice president now directly owns 77,944 shares in the company, valued at approximately $2,494,208. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Thukral sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $32.25, for a total transaction of $806,250.00. Following the completion of the sale, the insider now owns 85,305 shares in the company, valued at $2,751,086.25. The disclosure for this sale can be found here. Insiders sold a total of 1,575,051 shares of company stock worth $47,739,747 over the last quarter. Insiders own 1.41% of the company’s stock.
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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