Fmr LLC Decreases Holdings in Genpact Limited (NYSE:G)

Fmr LLC lessened its stake in shares of Genpact Limited (NYSE:G) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,570,836 shares of the business services provider’s stock after selling 2,424,455 shares during the quarter. Fmr LLC owned approximately 0.14% of Genpact worth $963,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC boosted its position in Genpact by 160.8% in the 2nd quarter. CWM LLC now owns 952 shares of the business services provider’s stock valued at $31,000 after buying an additional 587 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Genpact by 4,717.8% in the second quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 2,123 shares during the period. Venturi Wealth Management LLC grew its stake in Genpact by 74.6% in the third quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock worth $103,000 after purchasing an additional 1,121 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Genpact by 54.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,797 shares of the business services provider’s stock worth $90,000 after purchasing an additional 984 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Genpact by 221.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock worth $131,000 after purchasing an additional 2,293 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Stock Down 0.7 %

Shares of G stock opened at $46.49 on Thursday. The stock’s fifty day moving average price is $40.70 and its 200 day moving average price is $36.76. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $47.98. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.85.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be paid a dividend of $0.1525 per share. The ex-dividend date is Monday, December 9th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.31%. Genpact’s payout ratio is 16.76%.

Insider Activity at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.40, for a total transaction of $417,600.00. Following the sale, the chief executive officer now owns 267,404 shares in the company, valued at approximately $12,407,545.60. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on G shares. Jefferies Financial Group increased their price target on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. BMO Capital Markets raised their target price on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Robert W. Baird increased their price objective on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. TD Cowen boosted their price objective on shares of Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their target price on Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.33.

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.