Victory Capital Management Inc. lessened its stake in shares of Genpact Limited (NYSE:G – Free Report) by 46.4% in the third quarter, HoldingsChannel.com reports. The firm owned 5,323,687 shares of the business services provider’s stock after selling 4,599,704 shares during the quarter. Victory Capital Management Inc.’s holdings in Genpact were worth $223,009,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA boosted its position in Genpact by 364.2% during the 3rd quarter. Private Trust Co. NA now owns 636 shares of the business services provider’s stock valued at $27,000 after buying an additional 499 shares during the period. Quent Capital LLC purchased a new stake in shares of Genpact during the third quarter worth about $27,000. Westside Investment Management Inc. increased its holdings in Genpact by 193.5% during the 3rd quarter. Westside Investment Management Inc. now owns 678 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 447 shares during the period. Shell Asset Management Co. bought a new position in Genpact during the 3rd quarter valued at approximately $33,000. Finally, Huntington National Bank lifted its holdings in Genpact by 208.2% in the 2nd quarter. Huntington National Bank now owns 906 shares of the business services provider’s stock worth $40,000 after buying an additional 612 shares during the period. Institutional investors own 96.03% of the company’s stock.
Genpact Stock Performance
Shares of Genpact stock opened at $40.35 on Wednesday. Genpact Limited has a 12 month low of $34.79 and a 12 month high of $52.83. The firm has a market capitalization of $6.85 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.18 and a beta of 0.75. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $43.11 and a two-hundred day simple moving average of $43.10.
Genpact Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, March 16th. This is an increase from Genpact’s previous quarterly dividend of $0.17. Genpact’s dividend payout ratio (DPR) is currently 21.73%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Wall Street Zen upgraded Genpact from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Susquehanna set a $42.00 price objective on shares of Genpact in a report on Friday, February 6th. Mizuho dropped their target price on shares of Genpact from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Needham & Company LLC cut their target price on shares of Genpact from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Genpact in a research report on Friday, December 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.29.
Check Out Our Latest Report on Genpact
Insider Buying and Selling
In other news, SVP Sameer Dewan sold 15,088 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $46.65, for a total transaction of $703,855.20. Following the completion of the transaction, the senior vice president directly owned 37,749 shares in the company, valued at $1,760,990.85. This trade represents a 28.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riju Vashisht sold 16,016 shares of Genpact stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $46.65, for a total value of $747,146.40. Following the completion of the transaction, the senior vice president directly owned 95,521 shares of the company’s stock, valued at approximately $4,456,054.65. This represents a 14.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by company insiders.
Genpact Company Profile
Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.
Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.
Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.
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