Essex Investment Management Co. LLC Has $233,000 Position in Genpact Limited (G)
Essex Investment Management Co. LLC trimmed its position in Genpact Limited (NYSE:G) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,626 shares of the business services provider’s stock after selling 413 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Genpact were worth $233,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its holdings in Genpact by 4.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,573 shares of the business services provider’s stock valued at $313,000 after buying an additional 454 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in shares of Genpact by 19.5% in the fourth quarter. Sit Investment Associates Inc. now owns 5,675 shares of the business services provider’s stock valued at $153,000 after purchasing an additional 925 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Genpact by 17.6% in the third quarter. Great Lakes Advisors LLC now owns 12,586 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 1,887 shares in the last quarter. First Mercantile Trust Co. grew its holdings in shares of Genpact by 24.4% in the third quarter. First Mercantile Trust Co. now owns 9,990 shares of the business services provider’s stock valued at $306,000 after purchasing an additional 1,960 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Genpact by 108.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,887 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 2,026 shares in the last quarter. 89.29% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on G. Morgan Stanley upgraded Genpact from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $28.50 to $33.00 in a research report on Tuesday, January 15th. JPMorgan Chase & Co. lowered their price target on Genpact from $33.00 to $32.00 and set an “underweight” rating for the company in a research report on Wednesday, October 24th. Bank of America upgraded Genpact from an “underperform” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Wednesday, February 6th. Cantor Fitzgerald reiterated a “buy” rating and set a $36.00 target price on shares of Genpact in a research report on Wednesday, November 7th. Finally, Wells Fargo & Co set a $32.00 target price on Genpact and gave the stock a “hold” rating in a research report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.88.
Genpact (NYSE:G) last released its earnings results on Thursday, February 7th. The business services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Genpact had a return on equity of 23.63% and a net margin of 9.40%. The business had revenue of $835.34 million during the quarter, compared to the consensus estimate of $810.98 million. During the same period last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Genpact Limited will post 1.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Friday, March 8th will be given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.03%. This is an increase from Genpact’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, March 7th. Genpact’s dividend payout ratio (DPR) is 18.75%.
In other news, insider Private Ltd Gic sold 1,499,806 shares of Genpact stock in a transaction on Friday, February 15th. The stock was sold at an average price of $32.22, for a total transaction of $48,323,749.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is currently owned by company insiders.
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Genpact Company Profile
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; over-the counter services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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