Genpact Limited (NYSE:G) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ cut its holdings in Genpact Limited (NYSE:G) by 41.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,688 shares of the business services provider’s stock after selling 4,750 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Genpact were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Neuberger Berman Group LLC grew its holdings in shares of Genpact by 2.2% during the first quarter. Neuberger Berman Group LLC now owns 12,165 shares of the business services provider’s stock worth $529,000 after purchasing an additional 258 shares during the last quarter. Pathstone Family Office LLC grew its holdings in shares of Genpact by 1.8% during the fourth quarter. Pathstone Family Office LLC now owns 15,076 shares of the business services provider’s stock worth $697,000 after purchasing an additional 265 shares during the last quarter. American Trust grew its holdings in shares of Genpact by 2.8% during the fourth quarter. American Trust now owns 10,888 shares of the business services provider’s stock worth $504,000 after purchasing an additional 298 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Genpact by 27.6% during the first quarter. Belpointe Asset Management LLC now owns 1,446 shares of the business services provider’s stock worth $67,000 after purchasing an additional 313 shares during the last quarter. Finally, Cresset Asset Management LLC grew its holdings in shares of Genpact by 6.1% during the first quarter. Cresset Asset Management LLC now owns 5,645 shares of the business services provider’s stock worth $246,000 after purchasing an additional 326 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Heather White sold 11,450 shares of Genpact stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $36.00, for a total transaction 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 approximately $762,300. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Genpact Stock Performance

G traded up $0.38 during trading on Thursday, reaching $30.94. The company’s stock had a trading volume of 334,400 shares, compared to its average volume of 1,505,845. Genpact Limited has a 52-week low of $29.41 and a 52-week high of $45.38. The company’s fifty day moving average price is $33.69 and its 200-day moving average price is $34.34. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 1.44.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Genpact had a return on equity of 23.19% and a net margin of 14.10%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. On average, equities analysts forecast that Genpact Limited will post 2.7 earnings per share for the current fiscal year.

Genpact Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were given a dividend of $0.153 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, March 8th. Genpact’s dividend payout ratio (DPR) is presently 17.78%.

Analyst Upgrades and Downgrades

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

Genpact Company 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.