Envestnet Asset Management Inc. Buys 228,391 Shares of Genpact Limited (NYSE:G)

Envestnet Asset Management Inc. lifted its stake in shares of Genpact Limited (NYSE:G) by 124.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 412,343 shares of the business services provider’s stock after acquiring an additional 228,391 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.23% of Genpact worth $20,774,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in Genpact in the 1st quarter worth approximately $115,807,000. Norges Bank bought a new position in Genpact in the 4th quarter worth approximately $90,516,000. Lord Abbett & CO. LLC bought a new position in Genpact in the 4th quarter worth approximately $60,110,000. Millennium Management LLC boosted its stake in Genpact by 829.4% in the 4th quarter. Millennium Management LLC now owns 1,057,389 shares of the business services provider’s stock worth $45,415,000 after purchasing an additional 943,622 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Genpact by 9,371.4% in the 1st quarter. GAMMA Investing LLC now owns 490,903 shares of the business services provider’s stock worth $24,732,000 after purchasing an additional 485,720 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Genpact Stock Performance

G stock opened at $44.87 on Thursday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $43.63 and its two-hundred day simple moving average is $47.06. Genpact Limited has a twelve month low of $32.18 and a twelve month high of $56.76. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.92 and a beta of 0.94.

Genpact (NYSE:G) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.80 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 earnings per share. Analysts predict that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, September 11th. Genpact’s payout ratio is currently 23.21%.

Analysts Set New Price Targets

G has been the topic of several recent research reports. Mizuho upped their price objective on Genpact from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Genpact in a report on Monday, June 30th. Wall Street Zen raised Genpact from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Robert W. Baird decreased their price objective on Genpact from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Genpact currently has an average rating of “Moderate Buy” and an average target price of $50.14.

Insiders Place Their Bets

In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $43.97 per share, with a total value of $87,940.00. Following the completion of the acquisition, the director owned 2,000 shares in the company, valued at $87,940. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 3.07% of the stock is currently owned by insiders.

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.