Genpact Limited (NYSE:G) Position Lowered by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ decreased its stake in shares of Genpact Limited (NYSE:G) by 41.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,688 shares of the business services provider’s stock after selling 4,750 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Genpact were worth $232,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Fred Alger Management LLC lifted its holdings in Genpact by 136.7% in the fourth quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock worth $41,000 after acquiring an additional 507 shares during the last quarter. Janiczek Wealth Management LLC bought a new position in Genpact in the third quarter worth about $48,000. Covestor Ltd lifted its holdings in Genpact by 140.2% in the third quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock worth $56,000 after acquiring an additional 904 shares during the last quarter. Buck Wealth Strategies LLC lifted its holdings in Genpact by 438.3% in the third quarter. Buck Wealth Strategies LLC now owns 1,825 shares of the business services provider’s stock worth $66,000 after acquiring an additional 1,486 shares during the last quarter. Finally, State of Wyoming bought a new position in Genpact in the fourth quarter worth about $66,000. Institutional investors own 96.03% of the company’s stock.

Genpact Price Performance

Shares of NYSE G traded up $0.38 during mid-day trading on Thursday, reaching $30.94. 334,400 shares of the company traded hands, compared to its average volume of 1,505,845. Genpact Limited has a fifty-two week low of $29.41 and a fifty-two week high of $45.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $5.58 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The stock has a fifty day simple moving average of $33.69 and a 200-day simple moving average of $34.34.

Genpact (NYSE:G) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Genpact had a net margin of 14.10% and a return on equity of 23.19%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Equities research analysts anticipate that Genpact Limited will post 2.7 EPS for the current fiscal year.

Genpact Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Monday, March 11th were paid a dividend of $0.153 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, March 8th. This is a positive change from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio (DPR) is currently 17.78%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on G shares. StockNews.com cut shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. raised their target price on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Citigroup raised their price target on shares of Genpact from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Mizuho began coverage on shares of Genpact in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $40.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Genpact in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.11.

Insider Activity at Genpact

In other Genpact news, SVP Heather White sold 11,450 shares of Genpact stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $36.00, for a total value of $412,200.00. Following the transaction, the senior vice president now owns 21,175 shares in the company, valued at $762,300. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.

Genpact Company Profile

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.