Wellington Management Group LLP lessened its position in Genpact Limited (NYSE:G) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,660,890 shares of the business services provider’s stock after selling 1,094,295 shares during the quarter. Wellington Management Group LLP owned approximately 11.38% of Genpact worth $632,499,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in G. Victory Capital Management Inc. increased its position in Genpact by 2,976.0% during the 4th quarter. Victory Capital Management Inc. now owns 4,042,033 shares of the business services provider’s stock valued at $170,452,000 after buying an additional 3,910,628 shares in the last quarter. FMR LLC increased its position in Genpact by 39.1% during the 4th quarter. FMR LLC now owns 9,486,999 shares of the business services provider’s stock valued at $400,067,000 after buying an additional 2,665,165 shares in the last quarter. Norges Bank bought a new position in Genpact during the 4th quarter valued at approximately $110,322,000. Alliancebernstein L.P. increased its position in Genpact by 68.6% during the 1st quarter. Alliancebernstein L.P. now owns 4,259,059 shares of the business services provider’s stock valued at $124,365,000 after buying an additional 1,732,212 shares in the last quarter. Finally, FIL Ltd increased its holdings in shares of Genpact by 19.1% in the 4th quarter. FIL Ltd now owns 3,995,268 shares of the business services provider’s stock worth $168,480,000 after purchasing an additional 641,383 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.
In related news, CFO Edward J. Fitzpatrick purchased 5,600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $33.72 per share, with a total value of $188,832.00. Following the purchase, the chief financial officer now owns 193,693 shares of the company’s stock, valued at approximately $6,531,327.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Heather White sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $36.95, for a total transaction of $184,750.00. 1.86% of the stock is owned by corporate insiders.
Genpact stock traded down $1.57 during mid-day trading on Thursday, reaching $34.73. 54,169 shares of the company were exchanged, compared to its average volume of 1,524,756. The business has a fifty day moving average of $34.61 and a 200 day moving average of $37.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $7.18 billion, a P/E ratio of 20.56, a PEG ratio of 1.76 and a beta of 1.13. Genpact Limited has a 12-month low of $19.41 and a 12-month high of $45.20.
Genpact (NYSE:G) last issued its quarterly earnings data on Monday, May 11th. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.45 by $0.08. Genpact had a return on equity of 22.33% and a net margin of 9.07%. The firm had revenue of $923.19 million during the quarter, compared to analyst estimates of $894.39 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Genpact Limited will post 1.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.097 per share. The ex-dividend date is Wednesday, June 10th. This represents a $0.39 annualized dividend and a dividend yield of 1.12%. Genpact’s dividend payout ratio is presently 25.00%.
A number of analysts have commented on the company. BMO Capital Markets reduced their target price on Genpact from $50.00 to $41.00 and set a “market perform” rating for the company in a report on Tuesday, May 12th. JPMorgan Chase & Co. upgraded Genpact from a “neutral” rating to an “overweight” rating in a research report on Sunday, April 19th. Robert W. Baird lifted their target price on Genpact from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. TheStreet raised Genpact from a “c+” rating to a “b-” rating in a research note on Friday, May 8th. Finally, Citigroup reduced their price objective on Genpact from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Genpact currently has a consensus rating of “Buy” and a consensus price target of $42.25.
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; invoice-to-cash 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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