Goldman Sachs Group Inc. grew its stake in Genpact Limited (NYSE:G) by 16.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,605,018 shares of the business services provider’s stock after buying an additional 221,046 shares during the period. Goldman Sachs Group Inc. owned 0.83% of Genpact Limited worth $44,668,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of G. YorkBridge Wealth Partners LLC raised its holdings in shares of Genpact Limited by 5.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock worth $106,000 after purchasing an additional 189 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Genpact Limited during the first quarter valued at $110,000. Acrospire Investment Management LLC grew its position in Genpact Limited by 569.8% during the second quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock valued at $112,000 after buying an additional 3,419 shares during the period. BNP Paribas Arbitrage SA grew its position in Genpact Limited by 85.3% during the first quarter. BNP Paribas Arbitrage SA now owns 5,220 shares of the business services provider’s stock valued at $129,000 after buying an additional 2,403 shares during the period. Finally, Bronfman E.L. Rothschild L.P. grew its position in Genpact Limited by 1.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,053 shares of the business services provider’s stock valued at $141,000 after buying an additional 94 shares during the period. 92.16% of the stock is owned by institutional investors and hedge funds.
Genpact Limited (G) opened at 29.62 on Tuesday. The stock has a market capitalization of $5.71 billion, a P/E ratio of 22.37 and a beta of 0.53. Genpact Limited has a 1-year low of $22.62 and a 1-year high of $31.93. The stock has a 50 day moving average of $28.58 and a 200 day moving average of $27.32.
Genpact Limited (NYSE:G) last issued its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. The company had revenue of $670.70 million during the quarter, compared to analyst estimates of $642.68 million. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. On average, analysts expect that Genpact Limited will post $1.56 earnings per share for the current year.
The company also recently disclosed a special dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, September 8th were given a dividend of $0.06 per share. This represents a dividend yield of 0.84%. The ex-dividend date was Thursday, September 7th. Genpact Limited’s dividend payout ratio is presently 18.05%.
In other Genpact Limited news, insider Private Ltd Gic sold 1,501,126 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $43,112,338.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Bain Capital Investors Llc sold 8,498,874 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $244,087,661.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,358,442 shares of company stock worth $297,475,276. 1.41% of the stock is currently owned by company insiders.
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Several research firms recently commented on G. BMO Capital Markets raised their price target on shares of Genpact Limited from $26.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, August 3rd. Robert W. Baird restated an “outperform” rating and set a $34.00 price target on shares of Genpact Limited in a research report on Wednesday, August 16th. Cowen and Company reiterated a “buy” rating and issued a $33.00 target price on shares of Genpact Limited in a research report on Thursday, October 12th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $34.00 target price on shares of Genpact Limited in a research report on Monday, October 9th. Finally, Deutsche Bank AG lifted their target price on shares of Genpact Limited from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Genpact Limited currently has an average rating of “Buy” and an average price target of $32.38.
Genpact Limited Company Profile
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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