Norges Bank Takes Position in Genpact Limited (NYSE:G)

Norges Bank bought a new stake in Genpact Limited (NYSE:G) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,107,481 shares of the business services provider’s stock, valued at approximately $90,516,000.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Genpact by 192.8% during the 3rd 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. Tandem Investment Advisors Inc. increased its stake in shares of Genpact by 390.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider’s stock worth $91,480,000 after buying an additional 1,695,706 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Genpact by 18.1% in the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after acquiring an additional 1,511,790 shares in the last quarter. Geode Capital Management LLC boosted its stake in Genpact by 12.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock valued at $148,142,000 after acquiring an additional 413,646 shares during the last quarter. Finally, Swiss National Bank acquired a new position in Genpact during the 4th quarter worth $14,298,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on G. TD Cowen raised shares of Genpact from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $60.00 in a research report on Friday, February 7th. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $55.00 in a research report on Tuesday, January 21st. Mizuho upped their price target on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC raised their price objective on Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Genpact presently has an average rating of “Hold” and an average target price of $48.44.

Genpact Price Performance

Shares of G opened at $50.53 on Thursday. Genpact Limited has a 12 month low of $30.23 and a 12 month high of $56.76. 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 stock has a fifty day moving average price of $51.13 and a 200 day moving average price of $45.31. The company has a market cap of $8.88 billion, a P/E ratio of 17.79, a PEG ratio of 1.84 and a beta of 1.06.

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, research analysts forecast that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $0.17 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.35%. This is a positive change from Genpact’s previous quarterly dividend of $0.15. Genpact’s dividend payout ratio (DPR) is presently 23.94%.

Insider Transactions at Genpact

In other Genpact news, SVP Piyush Mehta sold 12,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total transaction of $513,960.00. Following the sale, the senior vice president now directly owns 151,182 shares in the company, valued at approximately $6,475,125.06. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $48.89, for a total transaction of $664,904.00. Following the completion of the transaction, the chief executive officer now owns 310,246 shares of the company’s stock, valued at $15,167,926.94. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.