Renaissance Technologies LLC Sells 185,900 Shares of Genpact Limited (NYSE:G)

Renaissance Technologies LLC decreased its position in Genpact Limited (NYSE:G – Get Rating) by 60.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,600 shares of the business services provider’s stock after selling 185,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of Genpact worth $5,366,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ergoteles LLC bought a new position in shares of Genpact during the third quarter valued at $820,000. MML Investors Services LLC increased its holdings in shares of Genpact by 4.3% during the third quarter. MML Investors Services LLC now owns 19,631 shares of the business services provider’s stock valued at $859,000 after acquiring an additional 816 shares in the last quarter. AXA S.A. bought a new position in shares of Genpact during the third quarter valued at $1,537,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Genpact by 110.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,587 shares of the business services provider’s stock valued at $507,000 after acquiring an additional 6,075 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Genpact by 1.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 29,811 shares of the business services provider’s stock valued at $1,305,000 after acquiring an additional 434 shares in the last quarter. Institutional investors own 95.17% of the company’s stock.

Insider Activity

In other news, CEO N. V. Tyagarajan sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $47.60, for a total transaction of $2,380,000.00. Following the transaction, the chief executive officer now owns 622,518 shares of the company’s stock, valued at approximately $29,631,856.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO N. V. Tyagarajan sold 50,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $47.60, for a total transaction of $2,380,000.00. Following the completion of the transaction, the chief executive officer now owns 622,518 shares in the company, valued at approximately $29,631,856.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Heather White sold 5,225 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $46.72, for a total value of $244,112.00. Following the transaction, the senior vice president now owns 20,933 shares of the company’s stock, valued at approximately $977,989.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,725 shares of company stock valued at $10,824,307. 2.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on G shares. JPMorgan Chase & Co. downgraded Genpact from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $50.00 in a report on Thursday, December 15th. BMO Capital Markets lifted their price objective on Genpact from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, February 8th. Citigroup lifted their price objective on Genpact from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 13th. StockNews.com raised Genpact from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $56.00 target price on shares of Genpact in a research report on Friday, February 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

Genpact Stock Performance

NYSE:G opened at $44.75 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.61 and a quick ratio of 1.61. Genpact Limited has a 1 year low of $37.68 and a 1 year high of $48.85. The stock’s 50 day simple moving average is $47.23 and its two-hundred day simple moving average is $46.12. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.91 and a beta of 1.21.

Genpact (NYSE:G – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Genpact had a return on equity of 25.63% and a net margin of 8.08%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. As a group, equities analysts anticipate that Genpact Limited will post 2.56 earnings per share for the current fiscal year.

Genpact Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a dividend of $0.1375 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.55 annualized dividend and a dividend yield of 1.23%. This is an increase from Genpact’s previous quarterly dividend of $0.13. Genpact’s payout ratio is currently 29.26%.

About Genpact

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Genpact Ltd. engages in the business process management, outsourcing, shared services and information outsourcing. The company operates through the following segments: Banking, Capital Markets and Insurance (BCMI), Consumer Goods, Retail, Life Sciences, and Healthcare (CGRLH) and High Tech, Manufacturing, and Services (HMS).