Harvest Fund Management Co. Ltd Acquires Shares of 4,381 Genpact Limited (NYSE:G)

Harvest Fund Management Co. Ltd bought a new stake in Genpact Limited (NYSE:G) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,381 shares of the business services provider’s stock, valued at approximately $188,000.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Genpact by 192.8% in the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock worth $122,701,000 after acquiring an additional 2,060,595 shares during the last quarter. Tandem Investment Advisors Inc. lifted its holdings 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 acquiring an additional 1,695,706 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of 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 worth $423,205,000 after acquiring an additional 1,511,790 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Genpact by 12.6% in 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 acquiring an additional 413,646 shares during the last quarter. Finally, Swiss National Bank bought a new position in shares of Genpact in the fourth quarter worth about $14,298,000. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

G has been the subject of a number of research reports. Needham & Company LLC increased their target price on shares of Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, February 7th. TD Cowen raised Genpact from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $60.00 in a research note on Friday, February 7th. Mizuho upped their price objective on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and upped their price objective for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.44.

Genpact Price Performance

Shares of G opened at $49.90 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average is $50.27 and its 200 day moving average is $44.66. Genpact Limited has a 12-month low of $30.23 and a 12-month high of $56.76. The stock has a market cap of $8.77 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.84 and a beta of 1.16.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share 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%. Sell-side analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, March 11th. This is a positive change from Genpact’s previous quarterly dividend of $0.15. Genpact’s payout ratio is presently 23.94%.

Insider Buying and Selling at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction dated Thursday, March 13th. The stock was 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. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Piyush Mehta sold 12,000 shares of Genpact stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the sale, the senior vice president now 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 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.