CIBC Asset Management Inc Takes $212,000 Position in Genpact Limited (NYSE:G)

CIBC Asset Management Inc bought a new position in Genpact Limited (NYSE:G) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 5,395 shares of the business services provider’s stock, valued at approximately $212,000.

Other large investors have also recently bought and sold shares of the company. ING Groep NV purchased a new stake in shares of Genpact in the 3rd quarter valued at about $2,874,000. Cable Hill Partners LLC raised its stake in Genpact by 7.9% in the third quarter. Cable Hill Partners LLC now owns 6,864 shares of the business services provider’s stock valued at $269,000 after purchasing an additional 501 shares in the last quarter. Loudon Investment Management LLC grew its stake in Genpact by 9.7% in the 3rd quarter. Loudon Investment Management LLC now owns 141,425 shares of the business services provider’s stock worth $5,545,000 after buying an additional 12,490 shares in the last quarter. Access Investment Management LLC increased its holdings in shares of Genpact by 44.0% in the 3rd quarter. Access Investment Management LLC now owns 212,875 shares of the business services provider’s stock worth $8,347,000 after buying an additional 65,070 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Genpact by 74.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock worth $103,000 after buying an additional 1,121 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Genpact Trading Up 0.8 %

NYSE:G opened at $46.19 on Friday. The firm has a market capitalization of $8.15 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.53 and a beta of 1.13. Genpact Limited has a 52 week low of $30.23 and a 52 week high of $47.98. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $40.24 and a 200 day moving average of $36.41.

Genpact Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be paid a $0.1525 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.61 annualized dividend and a dividend yield of 1.32%. Genpact’s payout ratio is presently 16.76%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on 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 raised their price objective on Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen upped their target price on Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, 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 note on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Genpact currently 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.