Sterling Capital Management LLC Has $935,000 Stake in Genpact Limited (G)
Sterling Capital Management LLC trimmed its holdings in Genpact Limited (NYSE:G) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,523 shares of the business services provider’s stock after selling 3,226 shares during the period. Sterling Capital Management LLC’s holdings in Genpact were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverhead Capital Management LLC acquired a new stake in shares of Genpact in the second quarter valued at approximately $886,000. Voya Investment Management LLC raised its position in Genpact by 97.9% during the second quarter. Voya Investment Management LLC now owns 112,834 shares of the business services provider’s stock valued at $3,140,000 after purchasing an additional 55,809 shares in the last quarter. Dalton Investments LLC raised its position in Genpact by 6.0% during the second quarter. Dalton Investments LLC now owns 839,960 shares of the business services provider’s stock valued at $23,376,000 after purchasing an additional 47,300 shares in the last quarter. Marathon Asset Management LLP raised its position in Genpact by 27.7% during the third quarter. Marathon Asset Management LLP now owns 1,356,597 shares of the business services provider’s stock valued at $39,002,000 after purchasing an additional 293,931 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Genpact by 184.8% during the third quarter. First Trust Advisors LP now owns 220,560 shares of the business services provider’s stock valued at $6,341,000 after purchasing an additional 143,128 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.
G has been the subject of several research analyst reports. SunTrust Banks restated a “buy” rating and set a $34.00 price objective on shares of Genpact in a research report on Monday, October 9th. Robert W. Baird restated a “buy” rating and set a $34.00 price objective on shares of Genpact in a research report on Monday, September 25th. Zacks Investment Research upgraded shares of Genpact from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a research report on Friday, November 10th. BMO Capital Markets restated a “hold” rating on shares of Genpact in a research report on Friday, October 6th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $36.00 price objective on shares of Genpact in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $33.38.
Genpact (NYSE:G) last announced its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.10. The company had revenue of $708.82 million during the quarter, compared to the consensus estimate of $685.25 million. Genpact had a net margin of 10.18% and a return on equity of 23.86%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. research analysts predict that Genpact Limited will post 1.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Friday, December 8th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.24 annualized dividend and a dividend yield of 0.74%. Genpact’s dividend payout ratio (DPR) is presently 17.39%.
In other news, SVP Arvinder Singh sold 22,855 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $32.23, for a total transaction of $736,616.65. Following the completion of the transaction, the senior vice president now directly owns 37,623 shares in the company, valued at $1,212,589.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Piyush Mehta sold 20,728 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $30.00, for a total transaction of $621,840.00. The disclosure for this sale can be found here. Insiders have sold 1,675,525 shares of company stock valued at $50,978,024 over the last quarter. Company insiders own 1.41% of the company’s stock.
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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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