Covestor Ltd Cuts Stock Holdings in Genpact Limited (NYSE:G)

by · The Markets Daily

Covestor Ltd trimmed its stake in shares of Genpact Limited (NYSE:G – Free Report) by 40.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,799 shares of the business services provider’s stock after selling 2,529 shares during the quarter. Covestor Ltd’s holdings in Genpact were worth $163,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. SRH Advisors LLC purchased a new stake in shares of Genpact in the 4th quarter valued at about $26,000. Atlas Capital Advisors Inc. boosted its position in Genpact by 55.8% during the fourth quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider’s stock worth $26,000 after purchasing an additional 216 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in Genpact in the fourth quarter valued at $38,000. Smartleaf Asset Management LLC raised its position in Genpact by 416.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider’s stock worth $41,000 after acquiring an additional 783 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Genpact by 55.7% in the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Stock Down 3.0 %

Shares of G opened at $46.68 on Friday. The firm’s 50-day simple moving average is $51.04 and its 200 day simple moving average is $45.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16. The firm has a market cap of $8.20 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. Genpact Limited has a 52 week low of $30.23 and a 52 week high of $56.76.

Genpact (NYSE:G – Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. On average, analysts forecast that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a $0.17 dividend. The ex-dividend date was Tuesday, March 11th. This is a positive change from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. Genpact’s dividend payout ratio (DPR) is 23.94%.

Insider Activity

In other news, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $48.89, for a total transaction of $664,904.00. Following the completion of the sale, the chief executive officer now directly owns 310,246 shares of the company’s stock, valued at $15,167,926.94. The trade was a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on G shares. Needham & Company LLC increased their target price on Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Jefferies Financial Group raised shares of Genpact from a “hold” rating to a “buy” rating and boosted their target price for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Mizuho lifted their price target on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, TD Cowen raised Genpact from a “hold” rating to a “buy” rating and upped their target price for the company from $45.00 to $60.00 in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Genpact has an average rating of “Hold” and an average target price of $48.44.

Get Our Latest Report on Genpact

Genpact Profile

(Free Report)

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.

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