Genpact Limited (NYSE:G) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in shares of Genpact Limited (NYSE:GFree Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,374,668 shares of the business services provider’s stock after selling 42,449 shares during the quarter. Nordea Investment Management AB owned 1.32% of Genpact worth $78,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of G. Vanguard Group Inc. lifted its stake in shares of Genpact by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 16,954,313 shares of the business services provider’s stock worth $588,484,000 after acquiring an additional 515,362 shares during the period. Fiduciary Management Inc. WI grew its holdings in Genpact by 8.5% in the fourth quarter. Fiduciary Management Inc. WI now owns 7,971,692 shares of the business services provider’s stock valued at $276,697,000 after purchasing an additional 623,794 shares during the last quarter. FIL Ltd increased its holdings in Genpact by 16.8% during the 4th quarter. FIL Ltd now owns 5,041,842 shares of the business services provider’s stock valued at $175,002,000 after acquiring an additional 725,198 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Genpact by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 3,448,806 shares of the business services provider’s stock worth $119,708,000 after purchasing an additional 214,986 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Genpact by 290.8% during the 4th quarter. First Trust Advisors LP now owns 3,071,231 shares of the business services provider’s stock valued at $106,602,000 after buying an additional 2,285,310 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on G shares. Citigroup reduced their target price on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Genpact in a research report on Friday, May 10th. BMO Capital Markets cut their price objective on Genpact from $39.00 to $38.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. Wedbush reissued a “neutral” rating and issued a $35.00 target price on shares of Genpact in a research note on Friday, May 10th. Finally, StockNews.com lowered Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.00.

Read Our Latest Research Report on G

Insider Activity

In related news, Director N. V. Tyagarajan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total transaction of $33,170.00. Following the transaction, the director now directly owns 7,300 shares in the company, valued at $242,141. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

Genpact Stock Up 0.9 %

Shares of NYSE:G opened at $31.33 on Tuesday. Genpact Limited has a 12-month low of $29.41 and a 12-month high of $39.58. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. The firm has a market cap of $5.64 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11. The company has a fifty day simple moving average of $32.51 and a 200 day simple moving average of $33.47.

Genpact (NYSE:GGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Genpact had a net margin of 14.21% and a return on equity of 22.71%. On average, equities research analysts anticipate that Genpact Limited will post 2.7 EPS for the current fiscal year.

Genpact Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th were given a $0.153 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.61 annualized dividend and a dividend yield of 1.95%. Genpact’s payout ratio is 17.43%.

About Genpact

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Genpact (NYSE:G)

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