New York State Common Retirement Fund Decreases Stake in Genpact Limited (NYSE:G)

New York State Common Retirement Fund trimmed its holdings in shares of Genpact Limited (NYSE:G) by 15.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 475,772 shares of the business services provider’s stock after selling 88,917 shares during the quarter. New York State Common Retirement Fund’s holdings in Genpact were worth $20,434,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. SRH Advisors LLC purchased a new stake in shares of Genpact during the 4th quarter valued at about $26,000. Manchester Capital Management LLC acquired a new stake in Genpact in the fourth quarter valued at approximately $38,000. UMB Bank n.a. boosted its stake in shares of Genpact by 55.7% in the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 433 shares during the period. Venturi Wealth Management LLC grew its holdings in Genpact by 74.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Genpact by 17.0% during the 4th quarter. Versant Capital Management Inc now owns 3,178 shares of the business services provider’s stock worth $136,000 after buying an additional 461 shares during the period. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.40, for a total value of $417,600.00. Following the sale, the chief executive officer now directly owns 267,404 shares of the company’s stock, valued at $12,407,545.60. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Piyush Mehta sold 12,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the completion of the sale, the senior vice president now owns 151,182 shares in the company, valued at $6,475,125.06. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,600 shares of company stock valued at $1,538,120 in the last quarter. Insiders own 2.80% of the company’s stock.

Genpact Price Performance

Shares of G opened at $53.21 on Friday. Genpact Limited has a 52 week low of $30.23 and a 52 week high of $56.76. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.84 and a beta of 1.20. The stock has a 50 day moving average of $47.00 and a 200-day moving average of $42.81.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. As a group, analysts forecast that Genpact Limited will post 3.21 EPS for the current year.

Genpact Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. Genpact’s payout ratio is 21.48%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Robert W. Baird increased their price target on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Mizuho lifted their price objective on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. TD Cowen raised Genpact from a “hold” rating to a “buy” rating and upped their target price for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Genpact from a “hold” rating to a “buy” rating and raised their price target for the stock from $44.00 to $55.00 in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.44.

Genpact Profile

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.