BNP Paribas Arbitrage SA trimmed its holdings in Genpact Limited (NYSE:G) by 42.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,823 shares of the business services provider’s stock after selling 102,836 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Genpact were worth $6,443,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Voloridge Investment Management LLC boosted its holdings in Genpact by 20.1% in the first quarter. Voloridge Investment Management LLC now owns 255,451 shares of the business services provider’s stock valued at $10,938,000 after purchasing an additional 42,753 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in Genpact in the first quarter valued at approximately $2,303,000. Paloma Partners Management Co boosted its holdings in Genpact by 138.0% in the first quarter. Paloma Partners Management Co now owns 51,493 shares of the business services provider’s stock valued at $2,205,000 after purchasing an additional 29,854 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Genpact by 37.8% in the first quarter. Schroder Investment Management Group now owns 1,637,509 shares of the business services provider’s stock valued at $70,118,000 after acquiring an additional 449,552 shares during the period. Finally, The PNC Financial Services Group Inc. boosted its holdings in shares of Genpact by 53.6% in the first quarter. The PNC Financial Services Group Inc. now owns 9,915 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 3,460 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.
Genpact stock opened at $48.05 on Wednesday. Genpact Limited has a 12 month low of $33.91 and a 12 month high of $52.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.52 and a quick ratio of 1.52. The business has a 50 day simple moving average of $50.37 and a 200-day simple moving average of $46.87. The stock has a market capitalization of $9.02 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 10th will be given a $0.108 dividend. This represents a $0.43 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, September 9th. Genpact’s payout ratio is 23.24%.
Several equities research analysts have recently weighed in on the company. Needham & Company LLC increased their price objective on Genpact from $54.00 to $61.00 and gave the company a “buy” rating in a report on Friday, August 6th. JPMorgan Chase & Co. increased their price objective on Genpact from $55.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, August 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Genpact currently has a consensus rating of “Buy” and a consensus price target of $52.00.
In other news, Director Carol Lindstrom sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $50.49, for a total value of $100,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Balkrishan Kalra sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $50.18, for a total value of $250,900.00. The disclosure for this sale can be found here. Corporate insiders own 2.39% of the company’s stock.
Genpact Company Profile
Genpact Ltd. engages in the business process management, outsourcing, shared services and information outsourcing. The company operates through the following segments: Banking, Capital Markets and Insurance (BCMI), Consumer Goods, Retail, Life Sciences, and Healthcare (CGRLH) and High Tech, Manufacturing, and Services (HMS).
Featured Article: What does an equal weight rating mean?
Want to see what other hedge funds are holding G? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genpact Limited (NYSE:G).
Receive News & Ratings for Genpact Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genpact and related companies with MarketBeat.com's FREE daily email newsletter.