Martingale Asset Management L P Buys 25,774 Shares of Genpact Limited (NYSE:G)

Martingale Asset Management L P boosted its stake in shares of Genpact Limited (NYSE:G) by 20.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,598 shares of the business services provider’s stock after acquiring an additional 25,774 shares during the quarter. Martingale Asset Management L P owned approximately 0.09% of Genpact worth $5,944,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Genpact by 160.8% during the 2nd quarter. CWM LLC now owns 952 shares of the business services provider’s stock worth $31,000 after acquiring an additional 587 shares during the last quarter. Versant Capital Management Inc grew its holdings in Genpact by 4,717.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock worth $70,000 after acquiring an additional 2,123 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Genpact by 54.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,797 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 984 shares during the period. Venturi Wealth Management LLC lifted its position in Genpact by 74.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 1,121 shares during the period. Finally, GAMMA Investing LLC lifted its position in Genpact by 221.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 2,293 shares during the period. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Needham & Company LLC upped their target price on shares of Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets upped their target price on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Jefferies Financial Group upped their target price on shares of Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, September 9th. TD Cowen upped their target price on shares of Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.33.

Insider Buying and Selling

In other news, CEO Balkrishan Kalra sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.40, for a total transaction of $417,600.00. Following the completion of the transaction, the chief executive officer now directly owns 267,404 shares of the company’s stock, valued at $12,407,545.60. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

Genpact Stock Performance

Shares of NYSE:G opened at $46.21 on Friday. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.60 and a beta of 1.13. The firm’s 50 day simple moving average is $41.17 and its 200 day simple moving average is $36.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.85. Genpact Limited has a fifty-two week low of $30.23 and a fifty-two week high of $47.98.

Genpact Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be paid a dividend of $0.1525 per share. The ex-dividend date is Monday, December 9th. This represents a $0.61 dividend on an annualized basis and a yield of 1.32%. Genpact’s payout ratio is 16.76%.

Genpact 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.