Genpact Limited (NYSE:G) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in shares of Genpact Limited (NYSE:G) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 38,100 shares of the business services provider’s stock after selling 400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Genpact were worth $1,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in G. DAVENPORT & Co LLC acquired a new position in shares of Genpact in the third quarter valued at approximately $1,125,000. Exchange Traded Concepts LLC raised its position in shares of Genpact by 22.6% in the third quarter. Exchange Traded Concepts LLC now owns 16,538 shares of the business services provider’s stock valued at $599,000 after buying an additional 3,047 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Genpact by 32.8% in the third quarter. Ballentine Partners LLC now owns 7,184 shares of the business services provider’s stock valued at $260,000 after buying an additional 1,775 shares during the last quarter. Ellsworth Advisors LLC raised its position in shares of Genpact by 11.2% in the third quarter. Ellsworth Advisors LLC now owns 93,669 shares of the business services provider’s stock valued at $3,304,000 after buying an additional 9,425 shares during the last quarter. Finally, Suncoast Equity Management raised its position in shares of Genpact by 4.1% in the third quarter. Suncoast Equity Management now owns 10,785 shares of the business services provider’s stock valued at $390,000 after buying an additional 420 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on G. Mizuho began coverage on shares of Genpact in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $40.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Genpact in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on shares of 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 shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Citigroup dropped their price target on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Genpact presently has a consensus rating of “Hold” and an average target price of $39.78.

Genpact Price Performance

G opened at $30.90 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. Genpact Limited has a 52-week low of $29.41 and a 52-week high of $44.63. The company has a 50 day moving average of $33.07 and a two-hundred day moving average of $34.10. The company has a market cap of $5.57 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.44 and a beta of 1.07.

Genpact (NYSE:G) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. Genpact had a net margin of 14.10% and a return on equity of 23.19%. On average, analysts expect that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were paid a $0.153 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Genpact’s previous quarterly dividend of $0.14. This represents a $0.61 annualized dividend and a dividend yield of 1.98%. Genpact’s dividend payout ratio is 17.78%.

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.