PNC Financial Services Group Inc. Sells 3,332 Shares of Genpact Limited (NYSE:G)

PNC Financial Services Group Inc. decreased its holdings in shares of Genpact Limited (NYSE:G) by 41.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,744 shares of the business services provider’s stock after selling 3,332 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Genpact were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in G. Vanguard Group Inc. lifted its holdings in shares of Genpact by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 16,954,313 shares of the business services provider’s stock worth $588,484,000 after buying an additional 515,362 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Genpact by 53.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 491,113 shares of the business services provider’s stock valued at $17,047,000 after purchasing an additional 170,045 shares during the period. Quarry LP grew its position in shares of Genpact by 530.1% during the 4th quarter. Quarry LP now owns 2,073 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 1,744 shares in the last quarter. FIL Ltd grew its position in shares of Genpact by 16.8% during the 4th quarter. FIL Ltd now owns 5,041,842 shares of the business services provider’s stock valued at $175,002,000 after purchasing an additional 725,198 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in shares of Genpact in the fourth quarter worth $644,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Price Performance

G stock opened at $31.82 on Thursday. The firm has a market cap of $5.73 billion, a P/E ratio of 9.09, a P/E/G ratio of 1.51 and a beta of 1.11. The firm’s fifty day moving average is $32.47 and its 200 day moving average is $33.54. Genpact Limited has a 52 week low of $29.41 and a 52 week high of $39.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.54.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Genpact had a return on equity of 22.71% and a net margin of 14.21%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Research analysts predict that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th were paid a dividend of $0.153 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, June 10th. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Insider Buying and Selling

In other news, Director N. V. Tyagarajan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $33.17, for a total transaction of $33,170.00. Following the completion of the transaction, the director now directly owns 7,300 shares of the company’s stock, valued at $242,141. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on G. Wedbush restated a “neutral” rating and issued a $35.00 target price on shares of Genpact in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Genpact in a research note on Friday, May 10th. StockNews.com cut shares of Genpact from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. BMO Capital Markets lowered their price objective on shares of Genpact from $39.00 to $38.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. Finally, Citigroup cut their target price on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.

Genpact Company 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.