Ritholtz Wealth Management Invests $382,000 in Genpact Limited (NYSE:G)

Ritholtz Wealth Management bought a new position in shares of Genpact Limited (NYSE:G) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,578 shares of the business services provider’s stock, valued at approximately $382,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new position in Genpact during the fourth quarter worth approximately $2,030,000. 111 Capital acquired a new position in Genpact during the fourth quarter worth approximately $301,000. Pictet Asset Management Holding SA acquired a new position in Genpact during the fourth quarter worth approximately $921,000. Proficio Capital Partners LLC acquired a new position in Genpact during the fourth quarter worth approximately $983,000. Finally, Assenagon Asset Management S.A. acquired a new position in Genpact during the first quarter worth approximately $2,396,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Activity at Genpact

In other Genpact news, Director Nicholas C. Gangestad bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $87,940. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.07% of the company’s stock.

Genpact Stock Down 2.6%

G opened at $42.07 on Friday. The business’s fifty day moving average is $45.22 and its two-hundred day moving average is $47.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.45 and a current ratio of 2.45. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.59 and a beta of 0.94. Genpact Limited has a one year low of $30.38 and a one year high of $56.76.

Genpact (NYSE:G) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts anticipate that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, June 18th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.68 annualized dividend and a yield of 1.62%. Genpact’s payout ratio is currently 23.21%.

Wall Street Analyst Weigh In

G has been the topic of several analyst reports. Needham & Company LLC lowered their target price on Genpact from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Robert W. Baird lowered their target price on Genpact from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded Genpact from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genpact presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.71.

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.