California Public Employees Retirement System Buys 2,108 Shares of Genpact Limited (NYSE:G)

California Public Employees Retirement System boosted its stake in Genpact Limited (NYSE:G) by 0.3% during the 4th quarter, HoldingsChannel reports. The fund owned 614,802 shares of the business services provider’s stock after acquiring an additional 2,108 shares during the quarter. California Public Employees Retirement System’s holdings in Genpact were worth $21,340,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Covestor Ltd lifted its position in Genpact by 140.2% during the 3rd quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock worth $56,000 after buying an additional 904 shares in the last quarter. Buck Wealth Strategies LLC lifted its position in Genpact by 438.3% during the 3rd quarter. Buck Wealth Strategies LLC now owns 1,825 shares of the business services provider’s stock worth $66,000 after buying an additional 1,486 shares in the last quarter. Lindbrook Capital LLC lifted its position in Genpact by 32.0% during the 3rd quarter. Lindbrook Capital LLC now owns 2,604 shares of the business services provider’s stock worth $94,000 after buying an additional 632 shares in the last quarter. Flynn Zito Capital Management LLC bought a new stake in Genpact during the 4th quarter worth about $206,000. Finally, Balentine LLC bought a new stake in Genpact during the 3rd quarter worth about $238,000. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on G shares. StockNews.com cut shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Genpact in a research note on Friday, February 9th. Citigroup lowered their price objective on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Mizuho initiated coverage on shares of Genpact in a research note on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.78.

Genpact Stock Up 0.7 %

Shares of G opened at $30.90 on Monday. Genpact Limited has a 52 week low of $29.41 and a 52 week high of $44.63. The firm has a market cap of $5.57 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. The firm’s 50-day simple moving average is $33.07 and its 200 day simple moving average is $34.08. 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 (NYSE:G) last announced its quarterly earnings results 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. On average, analysts forecast that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders 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 1.98%. The ex-dividend date was Friday, March 8th. This is a positive change from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio is presently 17.78%.

Genpact 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.