Genpact Limited (NYSE:G) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in Genpact Limited (NYSE:G) by 42.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,014 shares of the business services provider’s stock after selling 6,759 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Genpact were worth $387,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Genpact in the fourth quarter valued at approximately $90,516,000. JPMorgan Chase & Co. boosted its position in Genpact by 192.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock valued at $122,701,000 after purchasing an additional 2,060,595 shares during the period. Tandem Investment Advisors Inc. increased its position in Genpact by 390.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider’s stock worth $91,480,000 after buying an additional 1,695,706 shares during the period. Victory Capital Management Inc. lifted its stake in Genpact by 18.1% in the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after buying an additional 1,511,790 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Genpact by 12.6% during the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock valued at $148,142,000 after acquiring an additional 413,646 shares during the period. Institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on G shares. Needham & Company LLC increased their price objective on shares of Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and lifted their price target for the company from $44.00 to $55.00 in a report on Tuesday, January 21st. Mizuho increased 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. Finally, TD Cowen upgraded Genpact from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $60.00 in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.44.

Genpact Stock Performance

Shares of NYSE G opened at $50.00 on Friday. Genpact Limited has a 1 year low of $30.23 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16. The stock has a fifty day moving average price of $50.84 and a two-hundred day moving average price of $45.07. The firm has a market cap of $8.78 billion, a P/E ratio of 17.61, a PEG ratio of 1.84 and a beta of 1.16.

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

Genpact Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.36%. Genpact’s payout ratio is 23.94%.

Insider Activity

In other Genpact news, SVP Piyush Mehta sold 12,000 shares of Genpact stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the transaction, the senior vice president now owns 151,182 shares of the company’s stock, valued at $6,475,125.06. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the completion of the sale, the chief executive officer now owns 310,246 shares of the company’s stock, valued at approximately $15,167,926.94. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

About Genpact

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.