Allspring Global Investments Holdings LLC Reduces Stake in Genpact Limited (NYSE:G)

Allspring Global Investments Holdings LLC cut its stake in shares of Genpact Limited (NYSE:G) by 85.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,243 shares of the business services provider’s stock after selling 680,222 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Genpact were worth $4,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of G. FMR LLC grew its holdings in 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. BlackRock Inc. grew its position in Genpact by 3.3% in the 1st quarter. BlackRock Inc. now owns 16,019,805 shares of the business services provider’s stock valued at $740,435,000 after acquiring an additional 512,786 shares during the last quarter. Alliancebernstein L.P. increased its stake in Genpact by 13.2% in the second quarter. Alliancebernstein L.P. now owns 6,138,792 shares of the business services provider’s stock worth $230,634,000 after purchasing an additional 715,149 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Genpact by 103,311.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,937,889 shares of the business services provider’s stock worth $228,723,000 after purchasing an additional 4,933,114 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Genpact by 1.8% during the third quarter. State Street Corp now owns 4,340,982 shares of the business services provider’s stock valued at $190,005,000 after purchasing an additional 74,711 shares during the period. 96.03% of the stock is owned by institutional investors.

Genpact Trading Up 2.2 %

NYSE:G opened at $31.57 on Friday. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 1.43 and a beta of 1.07. Genpact Limited has a 52 week low of $29.41 and a 52 week high of $44.96. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $33.61 and a 200 day moving average of $34.31.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. Genpact had a return on equity of 23.19% and a net margin of 14.10%. As a group, sell-side analysts anticipate that Genpact Limited will post 2.7 earnings per share for the current fiscal year.

Genpact Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Monday, March 11th were issued a $0.153 dividend. This represents a $0.61 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, March 8th. This is an increase from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio (DPR) is currently 17.78%.

Analysts Set New Price Targets

G has been the subject of several research reports. Citigroup boosted their price objective on shares of Genpact from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Genpact in a report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. StockNews.com lowered Genpact from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Mizuho initiated 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Genpact currently has a consensus rating of “Hold” and a consensus target price of $40.11.

Insider Transactions at Genpact

In other Genpact news, SVP Heather White sold 11,450 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

About Genpact

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.