Heritage Wealth Management Inc. Buys Shares of 18,955 Genpact Limited (NYSE:G)

Heritage Wealth Management Inc. purchased a new position in shares of Genpact Limited (NYSE:G) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 18,955 shares of the business services provider’s stock, valued at approximately $589,000.

Other institutional investors have also made changes to their positions in the company. CWM LLC boosted its holdings in Genpact by 160.8% in the second quarter. CWM LLC now owns 952 shares of the business services provider’s stock worth $31,000 after purchasing an additional 587 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Genpact by 120.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock worth $60,000 after acquiring an additional 989 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Genpact by 22.6% in the 4th quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 347 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Genpact by 4,717.8% in the 2nd quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock worth $70,000 after purchasing an additional 2,123 shares during the last quarter. Finally, Quarry LP boosted its position in Genpact by 530.1% during the fourth quarter. Quarry LP now owns 2,073 shares of the business services provider’s stock worth $72,000 after purchasing an additional 1,744 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Genpact Price Performance

Shares of NYSE:G opened at $39.26 on Thursday. The firm has a market capitalization of $7.07 billion, a PE ratio of 11.22, a PEG ratio of 1.63 and a beta of 1.13. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. Genpact Limited has a 1-year low of $29.41 and a 1-year high of $39.95. The business’s 50 day moving average is $37.48 and its 200-day moving average is $34.15.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Genpact had a net margin of 14.12% and a return on equity of 22.28%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Sell-side analysts predict that Genpact Limited will post 2.85 earnings per share for the current year.

Genpact Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were given a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, September 11th. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Wall Street Analyst Weigh In

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

Genpact 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.