Genpact Limited (NYSE:G) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Genpact Limited (NYSE:G) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 452,631 shares of the business services provider’s stock after selling 24,796 shares during the period. California Public Employees Retirement System owned about 0.26% of Genpact worth $19,441,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Genpact by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,962,496 shares of the business services provider’s stock valued at $728,539,000 after purchasing an additional 61,376 shares during the period. Victory Capital Management Inc. lifted its stake in Genpact by 18.1% in the 4th 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 in the last quarter. Franklin Resources Inc. boosted its position in Genpact by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock worth $162,318,000 after acquiring an additional 252,674 shares during the period. Geode Capital Management LLC grew 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Genpact by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,400,636 shares of the business services provider’s stock worth $146,057,000 after purchasing an additional 271,295 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Activity

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $48.89, for a total value of $664,904.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Piyush Mehta sold 12,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the transaction, the senior vice president now directly owns 151,182 shares of the company’s stock, valued at $6,475,125.06. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Genpact Price Performance

Shares of Genpact stock opened at $47.08 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $51.20 and a 200-day simple moving average of $45.39. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 1.84 and a beta of 1.06. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $56.76.

Genpact (NYSE:G) last released its earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. On average, sell-side analysts expect that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.44%. Genpact’s dividend payout ratio is 23.94%.

Analyst Ratings Changes

Several brokerages recently issued reports on G. Mizuho increased their price objective 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 lifted their price target on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $55.00 in a report on Tuesday, January 21st. Finally, TD Cowen upgraded shares of Genpact from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $60.00 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.44.

About Genpact

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.