Royal Bank of Canada Sells 3,501 Shares of Genpact Limited (G)
Royal Bank of Canada lessened its holdings in shares of Genpact Limited (NYSE:G) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 423,858 shares of the business services provider’s stock after selling 3,501 shares during the quarter. Royal Bank of Canada owned approximately 0.22% of Genpact Limited worth $11,797,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of G. YorkBridge Wealth Partners LLC raised its position in shares of Genpact Limited by 5.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 189 shares during the period. SG Americas Securities LLC bought a new position in shares of Genpact Limited in the first quarter valued at approximately $110,000. Acrospire Investment Management LLC raised its position in shares of Genpact Limited by 569.8% in the second quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 3,419 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Genpact Limited by 85.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,220 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 2,403 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Genpact Limited by 1.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,053 shares of the business services provider’s stock valued at $141,000 after purchasing an additional 94 shares during the period. 92.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Genpact Limited from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Cowen and Company reissued a “buy” rating and issued a $33.00 price target on shares of Genpact Limited in a research report on Thursday. Deutsche Bank AG lifted their price target on shares of Genpact Limited from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Cantor Fitzgerald reissued a “buy” rating and issued a $32.00 price target on shares of Genpact Limited in a research report on Wednesday, September 13th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $36.00 price target (up previously from $34.00) on shares of Genpact Limited in a research report on Tuesday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.38.
Shares of Genpact Limited (NYSE G) opened at 29.54 on Monday. Genpact Limited has a 52 week low of $22.62 and a 52 week high of $31.93. The firm has a market cap of $5.70 billion, a P/E ratio of 22.31 and a beta of 0.53. The stock has a 50 day moving average of $28.58 and a 200 day moving average of $27.32.
Genpact Limited (NYSE:G) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The business had revenue of $670.70 million for the quarter, compared to analysts’ expectations of $642.68 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts forecast that Genpact Limited will post $1.56 earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Thursday, September 21st. Investors of record on Friday, September 8th were paid a $0.06 dividend. This represents a yield of 0.84%. The ex-dividend date was Thursday, September 7th. Genpact Limited’s dividend payout ratio (DPR) is presently 18.05%.
In related news, insider Private Ltd Gic sold 1,501,126 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $43,112,338.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bain Capital Investors Llc sold 8,498,874 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $28.72, for a total value of $244,087,661.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,358,442 shares of company stock worth $297,475,276. 1.41% of the stock is owned by company insiders.
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About Genpact Limited
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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