New York State Teachers Retirement System Lowers Stock Holdings in Genpact Limited (NYSE:G)

New York State Teachers Retirement System reduced its stake in Genpact Limited (NYSE:G) by 0.4% during the 4th quarter, HoldingsChannel reports. The firm owned 166,079 shares of the business services provider’s stock after selling 705 shares during the period. New York State Teachers Retirement System’s holdings in Genpact were worth $7,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in shares of Genpact by 6.5% in the third quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock valued at $162,318,000 after buying an additional 252,674 shares in the last quarter. Geode Capital Management LLC raised its holdings in Genpact by 12.6% during the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock worth $148,142,000 after purchasing an additional 413,646 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Genpact by 192.8% during the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock worth $122,701,000 after purchasing an additional 2,060,595 shares during the last quarter. ARGA Investment Management LP raised its holdings in Genpact by 14.1% during the fourth quarter. ARGA Investment Management LP now owns 772,917 shares of the business services provider’s stock worth $33,197,000 after purchasing an additional 95,413 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Genpact during the third quarter worth $19,779,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

G has been the subject of a number of analyst reports. Mizuho boosted their price target on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Needham & Company LLC upped their target price on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 7th. TD Cowen raised Genpact from a “hold” rating to a “buy” rating and boosted their price target for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Robert W. Baird boosted their price target on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and boosted their price target for the company from $44.00 to $55.00 in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.44.

Insider Buying and Selling at Genpact

In other Genpact news, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the transaction, the senior vice president now directly owns 151,182 shares of the company’s stock, valued at approximately $6,475,125.06. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Balkrishan Kalra sold 9,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.40, for a total value of $417,600.00. Following the transaction, the chief executive officer now directly owns 267,404 shares of the company’s stock, valued at approximately $12,407,545.60. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,600 shares of company stock worth $1,538,120 over the last quarter. 2.80% of the stock is owned by corporate insiders.

Genpact Price Performance

Shares of NYSE G opened at $54.99 on Thursday. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $56.76. The business has a 50-day moving average of $46.63 and a 200-day moving average of $42.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85. The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.86 and a beta of 1.20.

Genpact (NYSE:G) last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. On average, equities analysts anticipate that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.68 annualized dividend and a yield of 1.24%. This is a boost from Genpact’s previous quarterly dividend of $0.15. Genpact’s dividend payout ratio is presently 23.94%.

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.