Genpact Limited (NYSE:G) Holdings Lowered by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Genpact Limited (NYSE:G) by 34.0% during the first quarter, HoldingsChannel reports. The firm owned 111,753 shares of the business services provider’s stock after selling 57,643 shares during the period. SG Americas Securities LLC’s holdings in Genpact were worth $3,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in Genpact by 290.8% in the 4th quarter. First Trust Advisors LP now owns 3,071,231 shares of the business services provider’s stock worth $106,602,000 after buying an additional 2,285,310 shares in the last quarter. Norges Bank purchased a new stake in shares of Genpact during the fourth quarter worth $68,683,000. FIL Ltd boosted its position in Genpact by 16.8% during the fourth 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 during the last quarter. Fiduciary Management Inc. WI boosted its position in Genpact by 8.5% during the fourth quarter. Fiduciary Management Inc. WI now owns 7,971,692 shares of the business services provider’s stock valued at $276,697,000 after purchasing an additional 623,794 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Genpact by 162.9% in the fourth quarter. Truist Financial Corp now owns 921,160 shares of the business services provider’s stock valued at $31,973,000 after purchasing an additional 570,760 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Genpact Trading Up 1.8 %

Genpact stock opened at $32.45 on Monday. The business’s 50-day simple moving average is $32.55 and its 200-day simple moving average is $33.38. Genpact Limited has a 52 week low of $29.41 and a 52 week high of $39.58. The firm has a market capitalization of $5.84 billion, a PE ratio of 9.27, a PEG ratio of 1.52 and a beta of 1.11. 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 issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. Genpact had a return on equity of 22.71% and a net margin of 14.21%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Equities research analysts forecast that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.1525 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.61 annualized dividend and a dividend yield of 1.88%. Genpact’s payout ratio is 17.43%.

Insider Buying and Selling

In other Genpact news, Director N. V. Tyagarajan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total value of $33,170.00. Following the completion of the sale, the director now owns 7,300 shares in the company, valued at approximately $242,141. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on G. StockNews.com downgraded Genpact from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Citigroup reduced their target price on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Wedbush reissued a “neutral” rating and issued a $35.00 target price on shares of Genpact in a research report on Friday, May 10th. BMO Capital Markets cut their price target on shares of Genpact from $39.00 to $38.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Genpact in a report on Friday, May 10th. One equities research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.