Exchange Traded Concepts LLC Sells 1,090 Shares of Genpact Limited (NYSE:G)

Posted by Defense World Staff on Oct 7th, 2023

Exchange Traded Concepts LLC lowered its holdings in Genpact Limited (NYSE:G – Free Report) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,491 shares of the business services provider’s stock after selling 1,090 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Genpact were worth $507,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Genpact by 57.2% during the first quarter. American Century Companies Inc. now owns 18,403 shares of the business services provider’s stock worth $801,000 after acquiring an additional 6,699 shares in the last quarter. Bank of Montreal Can increased its position in shares of Genpact by 16.8% during the 1st quarter. Bank of Montreal Can now owns 23,398 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 3,364 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Genpact by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,683,950 shares of the business services provider’s stock worth $73,273,000 after purchasing an additional 5,331 shares in the last quarter. Sei Investments Co. boosted its position in Genpact by 6.2% in the first quarter. Sei Investments Co. now owns 104,775 shares of the business services provider’s stock valued at $4,560,000 after buying an additional 6,151 shares in the last quarter. Finally, Aviva PLC bought a new stake in Genpact during the first quarter worth about $2,219,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

Genpact Stock Performance

Genpact stock opened at $35.93 on Friday. The company has a market cap of $6.51 billion, a PE ratio of 16.41, a PEG ratio of 1.39 and a beta of 1.17. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.64. Genpact Limited has a 1 year low of $35.11 and a 1 year high of $48.85. The company’s 50-day moving average is $36.63 and its two-hundred day moving average is $39.08.

Genpact (NYSE:G – Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. Genpact had a net margin of 9.25% and a return on equity of 25.06%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Equities analysts anticipate that Genpact Limited will post 2.57 earnings per share for the current year.

Genpact Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Friday, September 8th were issued a $0.1375 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.55 dividend on an annualized basis and a yield of 1.53%. Genpact’s dividend payout ratio is presently 25.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on G shares. StockNews.com started coverage on Genpact in a report on Thursday. They issued a “buy” rating on the stock. Wedbush restated a “neutral” rating and set a $45.00 target price on shares of Genpact in a report on Thursday, August 10th. Citigroup cut their price target on Genpact from $42.00 to $39.00 in a report on Thursday, August 10th. Robert W. Baird decreased their price objective on shares of Genpact from $48.00 to $44.00 in a report on Thursday, August 10th. Finally, BMO Capital Markets dropped their target price on shares of Genpact from $46.00 to $41.00 and set a “market perform” rating for the company in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Genpact presently has an average rating of “Hold” and a consensus price target of $42.13.

Get Our Latest Analysis on Genpact

Insider Buying and Selling at Genpact

In related news, CEO N. V. Tyagarajan sold 1,700 shares of Genpact stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $35.89, for a total transaction of $61,013.00. Following the transaction, the chief executive officer now owns 8,300 shares of the company’s stock, valued at approximately $297,887. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.62% of the company’s stock.

About Genpact

(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.