Genpact Limited (NYSE:G) Stake Cut by Montag & Caldwell LLC
Montag & Caldwell LLC decreased its stake in Genpact Limited (NYSE:G) by 43.9% during the second quarter, Holdings Channel reports. The fund owned 18,482 shares of the business services provider’s stock after selling 14,468 shares during the period. Montag & Caldwell LLC’s holdings in Genpact Limited were worth $514,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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 valued at $190,169,000 after buying an additional 7,399,767 shares during the last quarter. Hahn Capital Management LLC boosted its stake in Genpact Limited by 2,613.3% in the first quarter. Hahn Capital Management LLC now owns 933,386 shares of the business services provider’s stock valued at $23,111,000 after buying an additional 898,986 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Genpact Limited during the first quarter valued at about $19,870,000. MARSHALL WACE ASIA Ltd purchased a new stake in Genpact Limited during the first quarter valued at about $19,515,000. Finally, Marshall Wace North America L.P. purchased a new stake in Genpact Limited during the first quarter valued at about $19,515,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.
Shares of Genpact Limited (NYSE:G) traded down 0.255% during midday trading on Friday, hitting $29.325. 38,456 shares of the company’s stock were exchanged. The firm has a market cap of $5.66 billion, a PE ratio of 22.149 and a beta of 0.50. The stock’s 50-day moving average price is $28.40 and its 200 day moving average price is $25.90. Genpact Limited has a one year low of $22.58 and a one year high of $31.93.
Genpact Limited (NYSE:G) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.10. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. The firm had revenue of $670.70 million during the quarter, compared to the consensus estimate of $642.68 million. During the same quarter in the prior year, the company earned $0.36 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that Genpact Limited will post $1.56 EPS for the current year.
G has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Genpact Limited from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Friday, April 14th. Wedbush restated an “outperform” rating and set a $33.00 price objective on shares of Genpact Limited in a research report on Wednesday. BidaskClub upgraded shares of Genpact Limited from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Deutsche Bank AG raised their price objective on shares of Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Cowen and Company reiterated an “outperform” rating and set a $33.00 price target (up from $30.00) on shares of Genpact Limited in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $30.67.
In other Genpact Limited news, insider Mohit Thukral sold 27,228 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $27.21, for a total value of $740,873.88. Following the completion of the sale, the insider now owns 68,845 shares of the company’s stock, valued at $1,873,272.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.55% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding G? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genpact Limited (NYSE:G).
Receive News & Ratings for Genpact Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genpact Limited and related companies with MarketBeat.com's FREE daily email newsletter.