Assetmark Inc. Decreases Stock Position in Genpact Limited (NYSE:G)

Assetmark Inc. decreased its position in Genpact Limited (NYSE:G) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,387 shares of the business services provider’s stock after selling 517 shares during the quarter. Assetmark Inc.’s holdings in Genpact were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in G. Lecap Asset Management Ltd. raised its position in shares of Genpact by 2.1% during the 3rd quarter. Lecap Asset Management Ltd. now owns 18,059 shares of the business services provider’s stock valued at $708,000 after acquiring an additional 364 shares in the last quarter. Suncoast Equity Management lifted its holdings in Genpact by 3.1% in the third quarter. Suncoast Equity Management now owns 12,600 shares of the business services provider’s stock worth $494,000 after purchasing an additional 375 shares during the period. Sawyer & Company Inc increased its stake in Genpact by 1.1% during the 3rd quarter. Sawyer & Company Inc now owns 36,243 shares of the business services provider’s stock valued at $1,421,000 after buying an additional 400 shares during the period. Cloverfields Capital Group LP increased its stake in Genpact by 1.5% during the 1st quarter. Cloverfields Capital Group LP now owns 28,950 shares of the business services provider’s stock valued at $954,000 after buying an additional 416 shares during the period. Finally, United Services Automobile Association raised its position in shares of Genpact by 3.3% during the 2nd quarter. United Services Automobile Association now owns 13,388 shares of the business services provider’s stock worth $431,000 after buying an additional 433 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Stock Performance

Shares of G stock opened at $44.79 on Friday. Genpact Limited has a fifty-two week low of $30.23 and a fifty-two week high of $47.98. The stock’s 50-day moving average is $39.74 and its two-hundred day moving average is $36.06. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.89. The firm has a market cap of $7.98 billion, a P/E ratio of 12.30, a PEG ratio of 1.63 and a beta of 1.13.

Genpact Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.1525 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, December 9th. Genpact’s dividend payout ratio is 16.76%.

Analyst Upgrades and Downgrades

Several brokerages have commented on G. JPMorgan Chase & Co. boosted their price target on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. BMO Capital Markets increased their target price on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Jefferies Financial Group lifted their price target on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Robert W. Baird increased their price objective on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC boosted their target price on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genpact has a consensus rating of “Hold” and a consensus target price 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.