Genpact Limited $G Stock Purchased by Ballast Asset Management LP

Ballast Asset Management LP grew its holdings in Genpact Limited (NYSE:G) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,556 shares of the business services provider’s stock after acquiring an additional 19,230 shares during the quarter. Genpact accounts for about 2.0% of Ballast Asset Management LP’s investment portfolio, making the stock its 21st largest holding. Ballast Asset Management LP’s holdings in Genpact were worth $4,507,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. WINTON GROUP Ltd grew its position in shares of Genpact by 178.8% in the 2nd quarter. WINTON GROUP Ltd now owns 48,666 shares of the business services provider’s stock valued at $1,338,000 after purchasing an additional 31,213 shares during the period. Engineers Gate Manager LP increased its stake in Genpact by 42.9% during the 2nd quarter. Engineers Gate Manager LP now owns 224,729 shares of the business services provider’s stock worth $6,180,000 after purchasing an additional 67,482 shares in the last quarter. Tidal Investments LLC increased its stake in Genpact by 135.5% during the 2nd quarter. Tidal Investments LLC now owns 57,011 shares of the business services provider’s stock worth $1,568,000 after purchasing an additional 32,805 shares in the last quarter. CX Institutional increased its stake in Genpact by 102.7% during the 3rd quarter. CX Institutional now owns 361,074 shares of the business services provider’s stock worth $11,746,000 after purchasing an additional 182,960 shares in the last quarter. Finally, Sawyer & Company Inc acquired a new stake in Genpact during the 3rd quarter worth approximately $955,000. 96.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genpact

In other news, SVP Anil Nanduru sold 6,191 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $37.03, for a total transaction of $229,252.73. Following the completion of the transaction, the senior vice president directly owned 70,253 shares of the company’s stock, valued at $2,601,468.59. This trade represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of Genpact from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Genpact from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. BMO Capital Markets reissued a “market perform” rating and set a $40.00 price objective on shares of Genpact in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Genpact from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 14th. Finally, Wall Street Zen cut shares of Genpact from a “buy” rating to a “hold” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.89.

Genpact Stock Up 0.8%

G stock opened at $42.62 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $7.13 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.08 and a beta of 0.53. The business has a 50-day moving average of $36.62 and a 200-day moving average of $35.51. Genpact Limited has a fifty-two week low of $26.85 and a fifty-two week high of $48.64.

Genpact (NYSE:G) last announced its earnings results on Thursday, November 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Genpact had a return on equity of 23.34% and a net margin of 11.04%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $0.97 EPS. Genpact’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Genpact Limited will post 3.66 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Thursday, December 10th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, December 10th. Genpact’s dividend payout ratio (DPR) is currently 21.87%.

Genpact Company Profile

Genpact is a global professional services company that helps businesses improve operations and pursue digital transformation. Its services include business process management, consulting, data and analytics, artificial intelligence, and technology implementation.

The company works with clients across industries such as banking and financial services, insurance, consumer goods, healthcare, life sciences, manufacturing, and technology. It serves organizations around the world through its global operations.

Genpact began in 1997 as a business services operation within GE Capital and became an independent company in 2005.