46,900 Shares in Genpact Limited (NYSE:G) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Genpact Limited (NYSE:G) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,900 shares of the business services provider’s stock, valued at approximately $1,628,000.

Other hedge funds also recently modified their holdings of the company. Fred Alger Management LLC boosted its stake in Genpact by 136.7% in the fourth quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock valued at $41,000 after buying an additional 507 shares in the last quarter. Janiczek Wealth Management LLC acquired a new stake in Genpact in the third quarter valued at about $48,000. State of Wyoming acquired a new stake in Genpact in the fourth quarter valued at about $66,000. Belpointe Asset Management LLC boosted its stake in Genpact by 27.6% in the first quarter. Belpointe Asset Management LLC now owns 1,446 shares of the business services provider’s stock valued at $67,000 after buying an additional 313 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Genpact by 5,162.1% in the fourth quarter. Lazard Asset Management LLC now owns 1,526 shares of the business services provider’s stock valued at $70,000 after buying an additional 1,497 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Citigroup raised their price objective on Genpact from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Genpact in a research note on Friday, February 9th. Mizuho started coverage on Genpact in a research note on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price target on the stock. Finally, StockNews.com lowered Genpact from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.11.

Genpact Price Performance

Genpact stock opened at $31.57 on Friday. The stock’s 50 day moving average is $33.61 and its 200 day moving average is $34.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $5.69 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.43 and a beta of 1.07. Genpact Limited has a one year low of $29.41 and a one year high of $44.96.

Genpact (NYSE:G) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Genpact had a return on equity of 23.19% and a net margin of 14.10%. As a group, research analysts expect that Genpact Limited will post 2.7 EPS 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 issued a $0.153 dividend. This is an increase from Genpact’s previous quarterly dividend of $0.14. This represents a $0.61 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, March 8th. Genpact’s payout ratio is presently 17.78%.

Insiders Place Their Bets

In other Genpact news, SVP Heather White sold 11,450 shares of Genpact stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $36.00, for a total value of $412,200.00. Following the completion of the sale, the senior vice president now directly owns 21,175 shares in the company, valued at $762,300. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

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.