Price T Rowe Associates Inc. MD lessened its position in Genpact Limited (NYSE:G) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,416 shares of the business services provider’s stock after selling 19,052 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.12% of Genpact worth $8,586,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in Genpact during the second quarter worth approximately $31,000. Captrust Financial Advisors raised its position in Genpact by 109.8% in the second quarter. Captrust Financial Advisors now owns 1,072 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 561 shares during the period. Capital Bank & Trust Co acquired a new stake in shares of Genpact in the second quarter valued at $78,000. Parallel Advisors LLC grew its stake in shares of Genpact by 741.2% in the second quarter. Parallel Advisors LLC now owns 3,003 shares of the business services provider’s stock valued at $114,000 after buying an additional 2,646 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Genpact in the second quarter valued at $133,000. Institutional investors and hedge funds own 94.59% of the company’s stock.
In other news, SVP Balkrishan Kalra sold 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $40.97, for a total value of $409,700.00. Following the completion of the sale, the senior vice president now directly owns 164,016 shares of the company’s stock, valued at approximately $6,719,735.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bain Capital Investors Llc sold 10,621,804 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $40.51, for a total value of $430,289,280.04. The disclosure for this sale can be found here. Insiders have sold a total of 12,580,720 shares of company stock valued at $509,578,468 over the last ninety days. 1.86% of the stock is owned by company insiders.
Genpact (NYSE:G) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. The company had revenue of $882.79 million during the quarter, compared to the consensus estimate of $824.84 million. Genpact had a return on equity of 21.87% and a net margin of 8.77%. Genpact’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. On average, research analysts anticipate that Genpact Limited will post 1.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Tuesday, September 10th. Genpact’s dividend payout ratio (DPR) is 21.25%.
A number of equities research analysts have recently weighed in on G shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective (up from $44.00) on shares of Genpact in a research note on Thursday, August 8th. Zacks Investment Research raised Genpact from a “sell” rating to a “hold” rating and set a $43.00 price objective for the company in a research note on Thursday, September 12th. Deutsche Bank lifted their price objective on Genpact from $36.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Cantor Fitzgerald lifted their price objective on Genpact from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Wedbush lifted their price objective on Genpact from $33.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.70.
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
Featured Story: Profit Margin
Want to see what other hedge funds are holding G? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genpact Limited (NYSE:G).
Receive News & Ratings for Genpact Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genpact and related companies with MarketBeat.com's FREE daily email newsletter.