Genpact Limited $G Stock Acquired by CenterBook Partners LP

CenterBook Partners LP lifted its holdings in Genpact Limited (NYSE:G) by 209.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,427 shares of the business services provider’s stock after buying an additional 19,932 shares during the period. CenterBook Partners LP’s holdings in Genpact were worth $957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Commonwealth Equity Services LLC acquired a new position in Genpact during the third quarter valued at $455,000. Chicago Partners Investment Group LLC lifted its stake in Genpact by 18.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 22,120 shares of the business services provider’s stock worth $903,000 after acquiring an additional 3,450 shares in the last quarter. Covestor Ltd lifted its stake in Genpact by 56.6% in the 3rd quarter. Covestor Ltd now owns 4,973 shares of the business services provider’s stock worth $162,000 after acquiring an additional 1,797 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Genpact by 27.5% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,431 shares of the business services provider’s stock worth $79,000 after acquiring an additional 524 shares in the last quarter. Finally, Ascent Group LLC acquired a new stake in Genpact during the 3rd quarter worth about $211,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling at Genpact

In other news, SVP Anil Nanduru sold 6,191 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $37.03, for a total transaction of $229,252.73. Following the completion of the sale, the senior vice president directly owned 70,253 shares of the company’s stock, valued at $2,601,468.59. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on G. JPMorgan Chase & Co. lifted their target price on Genpact from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. TD Cowen upped their target price on Genpact from $42.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 7th. Needham & Company LLC increased their price target on shares of Genpact from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Wall Street Zen cut shares of Genpact from a “buy” rating to a “hold” rating in a report on Saturday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 price objective on shares of Genpact in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.89.

Genpact Trading Up 1.2%

NYSE G opened at $43.07 on Wednesday. Genpact Limited has a 1-year low of $26.85 and a 1-year high of $48.64. The company has a current ratio of 1.95, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $7.20 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53. The firm’s fifty day simple moving average is $36.72 and its 200-day simple moving average is $35.50.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, November 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. Genpact had a return on equity of 23.02% and a net margin of 11.04%. Genpact’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. As a group, sell-side analysts anticipate that Genpact Limited will post 3.66 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Thursday, December 10th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, December 10th. Genpact’s dividend payout ratio is presently 21.87%.

About Genpact

Genpact is a global professional services company that helps businesses improve operations and pursue digital transformation. Its services include business process management, consulting, data and analytics, artificial intelligence, and technology implementation. The company works with clients across industries such as banking and financial services, insurance, consumer goods, healthcare, life sciences, manufacturing, and technology. It serves organizations around the world through its global operations.