Benjamin F. Edwards & Company Inc. cut its position in Genpact Limited (NYSE:G – Free Report) by 24.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,833 shares of the business services provider’s stock after selling 1,273 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Genpact were worth $177,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of G. Ronald Blue Trust Inc. bought a new stake in Genpact in the 4th quarter valued at $28,000. Exchange Traded Concepts LLC bought a new position in shares of Genpact during the 4th quarter worth about $30,000. Fred Alger Management LLC lifted its holdings in shares of Genpact by 136.7% during the 4th quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock worth $41,000 after acquiring an additional 507 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Genpact during the 4th quarter worth about $52,000. Finally, State of Wyoming bought a new position in shares of Genpact during the 4th quarter worth about $66,000. 96.46% of the stock is currently owned by institutional investors and hedge funds.
Genpact Trading Down 1.8 %
Shares of G stock opened at $38.65 on Thursday. Genpact Limited has a 12-month low of $35.75 and a 12-month high of $48.85. The company has a market capitalization of $7.11 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.73 and a beta of 1.20. The firm has a 50-day moving average price of $37.79 and a 200 day moving average price of $43.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.65.
Genpact Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Friday, September 8th will be given a $0.1375 dividend. This represents a $0.55 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, September 7th. Genpact’s payout ratio is presently 28.35%.
Wall Street Analysts Forecast Growth
G has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Genpact in a report on Thursday, May 18th. They set a “buy” rating for the company. Robert W. Baird reduced their price objective on shares of Genpact from $54.00 to $48.00 in a report on Thursday, May 11th. Jefferies Financial Group reduced their price objective on shares of Genpact from $47.00 to $41.00 in a report on Monday, May 15th. TheStreet downgraded shares of Genpact from a “b-” rating to a “c+” rating in a report on Friday, June 9th. Finally, Citigroup downgraded shares of Genpact from a “buy” rating to a “neutral” rating and cut their price target for the company from $46.00 to $42.00 in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.33.
Insider Buying and Selling at Genpact
In related news, CEO N. V. Tyagarajan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $43.85, for a total transaction of $2,192,500.00. Following the completion of the transaction, the chief executive officer now owns 805,509 shares in the company, valued at $35,321,569.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Genpact news, Director James C. Madden acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average price of $36.86 per share, with a total value of $92,150.00. Following the completion of the transaction, the director now directly owns 44,947 shares in the company, valued at approximately $1,656,746.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO N. V. Tyagarajan sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $43.85, for a total transaction of $2,192,500.00. Following the completion of the sale, the chief executive officer now directly owns 805,509 shares in the company, valued at approximately $35,321,569.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,144 shares of company stock worth $10,364,645. 2.62% of the stock is currently owned by corporate insiders.
Genpact Company Profile
Genpact Limited provides business process outsourcing and information technology (IT) 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 company offers CFO advisory services; and environmental, social, and governance (ESG) services, such as data management, carbon accounting, human rights assessment, sustainability diligence, and ESG reporting.
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