Bank of New York Mellon Corp Has $73.64 Million Stock Holdings in Genpact Limited (NYSE:G)

Posted by Defense World Staff on Aug 19th, 2023

Bank of New York Mellon Corp trimmed its position in Genpact Limited (NYSE:G – Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,593,195 shares of the business services provider’s stock after selling 32,835 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Genpact worth $73,637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Genpact by 10.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 235 shares during the period. Profund Advisors LLC lifted its position in shares of Genpact by 3.8% during the 4th quarter. Profund Advisors LLC now owns 6,548 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 238 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Genpact by 2.2% during the 1st quarter. Neuberger Berman Group LLC now owns 12,165 shares of the business services provider’s stock valued at $529,000 after acquiring an additional 258 shares during the period. Pathstone Family Office LLC lifted its position in shares of Genpact by 1.8% during the 4th quarter. Pathstone Family Office LLC now owns 15,076 shares of the business services provider’s stock valued at $697,000 after acquiring an additional 265 shares during the period. Finally, American Trust lifted its position in shares of Genpact by 2.8% during the 4th quarter. American Trust now owns 10,888 shares of the business services provider’s stock valued at $504,000 after acquiring an additional 298 shares during the period. 96.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on G. StockNews.com began coverage on Genpact in a research report on Thursday. They set a “buy” rating for the company. Robert W. Baird dropped their price objective on Genpact from $48.00 to $44.00 in a research report on Thursday, August 10th. Citigroup dropped their price objective on Genpact from $42.00 to $39.00 in a research report on Thursday, August 10th. Needham & Company LLC dropped their price objective on Genpact from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Genpact from $48.00 to $37.00 in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.13.

Check Out Our Latest Report on Genpact

Genpact Price Performance

Shares of G opened at $36.32 on Friday. Genpact Limited has a 12-month low of $35.31 and a 12-month high of $48.85. The business has a 50-day simple moving average of $37.56 and a two-hundred day simple moving average of $41.46. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.64. The stock has a market cap of $6.59 billion, a PE ratio of 16.58, a PEG ratio of 1.39 and a beta of 1.19.

Genpact Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Friday, September 8th will be issued a $0.1375 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.55 dividend on an annualized basis and a yield of 1.51%. Genpact’s payout ratio is presently 25.11%.

Insiders Place Their Bets

In other Genpact news, CEO N. V. Tyagarajan sold 1,700 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $35.89, for a total value of $61,013.00. Following the completion of the transaction, the chief executive officer now owns 8,300 shares of the company’s stock, valued at approximately $297,887. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO N. V. Tyagarajan sold 1,700 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $35.89, for a total value of $61,013.00. Following the completion of the sale, the chief executive officer now owns 8,300 shares of the company’s stock, valued at $297,887. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Piyush Mehta sold 41,062 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $37.02, for a total value of $1,520,115.24. Following the completion of the sale, the senior vice president now directly owns 135,703 shares of the company’s stock, valued at approximately $5,023,725.06. The disclosure for this sale can be found here. Insiders sold a total of 64,844 shares of company stock valued at $2,401,033 in the last 90 days. Corporate insiders own 2.62% of the company’s stock.

Genpact Profile

(Free Report)

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.