Wedge Capital Management L L P NC Grows Stock Holdings in Genpact Limited (NYSE:G)

Wedge Capital Management L L P NC lifted its holdings in Genpact Limited (NYSE:G) by 40.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 144,144 shares of the business services provider’s stock after purchasing an additional 41,251 shares during the period. Wedge Capital Management L L P NC’s holdings in Genpact were worth $5,003,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Covestor Ltd lifted its position in Genpact by 140.2% during the third quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 904 shares during the last quarter. Buck Wealth Strategies LLC lifted its position in Genpact by 438.3% during the third quarter. Buck Wealth Strategies LLC now owns 1,825 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 1,486 shares during the last quarter. Lindbrook Capital LLC lifted its position in Genpact by 32.0% during the third quarter. Lindbrook Capital LLC now owns 2,604 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 632 shares during the last quarter. Flynn Zito Capital Management LLC purchased a new stake in Genpact during the fourth quarter valued at approximately $206,000. Finally, Vest Financial LLC purchased a new stake in Genpact during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Mizuho assumed coverage on shares of Genpact in a research report on Tuesday, January 30th. They set a “neutral” rating and a $40.00 target price for the company. Citigroup cut their price target on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Genpact in a research note on Friday, February 9th. StockNews.com lowered shares of Genpact from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.78.

Genpact Stock Up 0.3 %

NYSE:G opened at $31.76 on Thursday. The firm has a market capitalization of $5.73 billion, a P/E ratio of 9.26, a PEG ratio of 1.49 and a beta of 1.07. Genpact Limited has a 1-year low of $29.41 and a 1-year high of $44.63. The company’s fifty day moving average price is $33.27 and its 200-day moving average price is $34.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44.

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

Genpact Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were paid a $0.153 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio is presently 17.78%.

About Genpact

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.