Canada Pension Plan Investment Board Sells 12,800 Shares of Genpact Limited (NYSE:G)

Canada Pension Plan Investment Board trimmed its holdings in Genpact Limited (NYSE:G) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,900 shares of the business services provider’s stock after selling 12,800 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of Genpact worth $3,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in G. CWM LLC lifted its position in shares of Genpact by 160.8% during the second quarter. CWM LLC now owns 952 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 587 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Genpact by 106.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 471 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Genpact by 120.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 989 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Genpact by 22.6% during the fourth quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 347 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Genpact by 4,717.8% during the second quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock worth $70,000 after buying an additional 2,123 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on G. BMO Capital Markets raised their price objective on shares of Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. TD Cowen raised their price objective on shares of Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Jefferies Financial Group raised their price objective on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Needham & Company LLC raised their price objective on shares of Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.78.

Genpact Price Performance

G opened at $38.71 on Thursday. The firm has a 50-day moving average price of $37.03 and a 200-day moving average price of $34.00. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.63 and a beta of 1.13. Genpact Limited has a twelve month low of $29.41 and a twelve month high of $39.95. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.52.

Genpact (NYSE:G) last issued its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Genpact had a net margin of 14.12% and a return on equity of 22.28%. Equities analysts expect that Genpact Limited will post 2.85 EPS for the current year.

Genpact Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were paid a dividend of $0.1525 per share. The ex-dividend date was Wednesday, September 11th. This represents a $0.61 annualized dividend and a yield of 1.58%. Genpact’s dividend payout ratio is currently 17.43%.

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.