New York State Teachers Retirement System Has $6.03 Million Position in Genpact Limited (NYSE:G)

New York State Teachers Retirement System grew its position in Genpact Limited (NYSE:G) by 10.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,701 shares of the business services provider’s stock after buying an additional 16,080 shares during the quarter. New York State Teachers Retirement System’s holdings in Genpact were worth $6,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in G. Moneta Group Investment Advisors LLC grew its holdings in shares of Genpact by 103,311.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,937,889 shares of the business services provider’s stock valued at $228,723,000 after purchasing an additional 4,933,114 shares during the last quarter. Capital International Investors grew its holdings in shares of Genpact by 101.8% during the 1st quarter. Capital International Investors now owns 3,963,229 shares of the business services provider’s stock valued at $172,440,000 after purchasing an additional 1,999,617 shares during the last quarter. Norges Bank bought a new stake in shares of Genpact during the 4th quarter valued at approximately $81,569,000. FMR LLC grew its holdings in shares of Genpact by 8.1% during the 3rd quarter. FMR LLC now owns 17,644,694 shares of the business services provider’s stock valued at $638,738,000 after purchasing an additional 1,327,435 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Genpact by 416.0% during the 4th quarter. Millennium Management LLC now owns 918,348 shares of the business services provider’s stock valued at $42,538,000 after purchasing an additional 740,389 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Genpact Trading Down 1.7 %

NYSE:G opened at $31.21 on Friday. The firm’s fifty day moving average is $33.94 and its 200-day moving average is $34.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 1.44. Genpact Limited has a 52 week low of $29.41 and a 52 week high of $45.99. The firm has a market cap of $5.63 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.49 and a beta of 1.07.

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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Equities analysts expect that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Monday, March 11th were given a dividend of $0.153 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Genpact’s previous quarterly dividend of $0.14. Genpact’s payout ratio is presently 17.78%.

Insider Activity at Genpact

In related news, SVP Heather White sold 11,450 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $36.00, for a total transaction of $412,200.00. Following the transaction, the senior vice president now owns 21,175 shares in the company, valued at approximately $762,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

G has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Genpact in a report on Friday, February 9th. Mizuho assumed coverage on shares of Genpact in a report on Tuesday, January 30th. They set a “neutral” rating and a $40.00 target price on the stock. Robert W. Baird reissued a “neutral” rating and set a $38.00 target price on shares of Genpact in a report on Friday, December 15th. JPMorgan Chase & Co. boosted 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. Finally, StockNews.com lowered shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.11.

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.