Highland Capital Management LLC Invests $213,000 in Genpact Limited (NYSE:G)

Highland Capital Management LLC acquired a new position in shares of Genpact Limited (NYSE:G) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,437 shares of the business services provider’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Genpact by 1.3% during the first quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock worth $565,845,000 after buying an additional 218,526 shares during the period. Dimensional Fund Advisors LP raised its holdings in Genpact by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock worth $107,065,000 after acquiring an additional 847,249 shares in the last quarter. Capital International Investors raised its holdings in Genpact by 51.8% during the first quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock worth $101,715,000 after acquiring an additional 1,053,236 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in Genpact by 22.2% during the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock worth $50,456,000 after acquiring an additional 284,842 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Genpact by 8.9% during the second quarter. Bank of New York Mellon Corp now owns 1,512,259 shares of the business services provider’s stock worth $48,680,000 after acquiring an additional 122,993 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

G has been the topic of several analyst reports. Robert W. Baird upped their target price on Genpact from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Jefferies Financial Group upped their target price on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. BMO Capital Markets upped their target price on Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Finally, TD Cowen upped their price objective on Genpact from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Genpact presently has an average rating of “Hold” and an average target price of $39.44.

Genpact Price Performance

Genpact stock opened at $38.34 on Monday. Genpact Limited has a 12 month low of $29.41 and a 12 month high of $39.95. The stock’s 50 day moving average is $38.90 and its 200-day moving average is $34.97. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.60 and a beta of 1.13.

Genpact (NYSE:G) last posted its earnings results 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. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Equities research analysts expect that Genpact Limited will post 2.85 EPS for the current year.

Genpact Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given a $0.1525 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, December 9th. Genpact’s payout ratio is 17.23%.

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.