KLP Kapitalforvaltning AS Buys New Position in Genpact Limited (NYSE:G)

KLP Kapitalforvaltning AS purchased a new position in shares of Genpact Limited (NYSE:G) in the 4th quarter, HoldingsChannel reports. The firm purchased 34,300 shares of the business services provider’s stock, valued at approximately $1,473,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SRH Advisors LLC bought a new position in Genpact during the fourth quarter worth $26,000. Manchester Capital Management LLC bought a new position in shares of Genpact in the 4th quarter worth about $38,000. Smartleaf Asset Management LLC lifted its stake in shares of Genpact by 416.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 783 shares during the period. UMB Bank n.a. boosted its position in shares of Genpact by 55.7% during the 4th 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 in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in Genpact by 38.8% during the fourth quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider’s stock worth $69,000 after purchasing an additional 453 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Mizuho boosted their price target on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC boosted their target price 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. TD Cowen upgraded shares of Genpact from a “hold” rating to a “buy” rating and raised their price target for the stock from $45.00 to $60.00 in a report on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of Genpact from a “hold” rating to a “buy” rating and upped their price objective for the company from $44.00 to $55.00 in a report on Tuesday, January 21st. Six 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 stock presently has an average rating of “Hold” and an average target price of $48.44.

Genpact Stock Down 1.5 %

Shares of NYSE G opened at $50.00 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85. Genpact Limited has a 1 year low of $30.23 and a 1 year high of $56.76. The stock has a market capitalization of $8.78 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.84 and a beta of 1.16. The company has a 50-day moving average price of $50.84 and a 200-day moving average price of $45.02.

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

Genpact Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.36%. Genpact’s dividend payout ratio (DPR) is 23.94%.

Insiders Place Their Bets

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Piyush Mehta sold 12,000 shares of the company’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 transaction, the senior vice president now owns 151,182 shares of the company’s stock, valued at $6,475,125.06. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.