Biltmore Wealth Management LLC bought a new position in shares of Genpact Limited (NYSE:G) during the second quarter, Holdings Channel reports. The firm bought 7,205 shares of the business services provider’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of G. Wellington Management Group LLP raised its position in shares of Genpact Limited by 0.3% in the first quarter. Wellington Management Group LLP now owns 19,815,652 shares of the business services provider’s stock worth $490,635,000 after buying an additional 54,034 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Genpact Limited by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,626,705 shares of the business services provider’s stock worth $263,117,000 after buying an additional 321,161 shares in the last quarter. BlackRock Inc. raised its position in shares of Genpact Limited by 2,636.7% in the first quarter. BlackRock Inc. now owns 7,680,410 shares of the business services provider’s stock worth $190,169,000 after buying an additional 7,399,767 shares in the last quarter. Fiduciary Management Inc. WI raised its position in shares of Genpact Limited by 9.2% in the first quarter. Fiduciary Management Inc. WI now owns 5,266,210 shares of the business services provider’s stock worth $130,391,000 after buying an additional 442,770 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Genpact Limited by 5.6% in the first quarter. Alliancebernstein L.P. now owns 3,193,666 shares of the business services provider’s stock worth $79,075,000 after buying an additional 170,471 shares in the last quarter. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Limited (NYSE:G) opened at 29.40 on Friday. Genpact Limited has a 52 week low of $22.58 and a 52 week high of $31.93. The firm’s 50 day moving average price is $28.40 and its 200-day moving average price is $25.90. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 22.21 and a beta of 0.50.

Genpact Limited (NYSE:G) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. The business had revenue of $670.70 million for the quarter, compared to analysts’ expectations of $642.68 million. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Analysts expect that Genpact Limited will post $1.56 EPS for the current year.

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A number of research analysts have weighed in on G shares. Zacks Investment Research lowered Genpact Limited from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. BMO Capital Markets increased their price target on Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, August 3rd. Deutsche Bank AG increased their price target on Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Cowen and Company reissued an “outperform” rating and set a $33.00 price target (up previously from $30.00) on shares of Genpact Limited in a research note on Thursday, August 3rd. Finally, Wedbush started coverage on Genpact Limited in a research note on Thursday, August 3rd. They set a “neutral” rating and a $33.00 price target on the stock. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.67.

In related news, insider Mohit Thukral sold 27,228 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.21, for a total value of $740,873.88. Following the sale, the insider now owns 68,845 shares of the company’s stock, valued at $1,873,272.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.55% of the company’s stock.

Genpact Limited Company Profile

Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.

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Institutional Ownership by Quarter for Genpact Limited (NYSE:G)

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