Bank of America Corp DE Sells 194,695 Shares of Genpact Limited (NYSE:G)

Bank of America Corp DE reduced its stake in shares of Genpact Limited (NYSE:G - Free Report) by 21.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 700,862 shares of the business services provider's stock after selling 194,695 shares during the period. Bank of America Corp DE owned about 0.40% of Genpact worth $30,102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of G. Coppell Advisory Solutions LLC boosted its holdings in Genpact by 529.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider's stock worth $25,000 after buying an additional 503 shares during the period. SRH Advisors LLC bought a new position in Genpact in the 4th quarter worth approximately $26,000. Atlas Capital Advisors Inc. boosted its holdings in Genpact by 55.8% in the 4th quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider's stock worth $26,000 after buying an additional 216 shares during the period. GeoWealth Management LLC boosted its holdings in Genpact by 199.0% in the 4th quarter. GeoWealth Management LLC now owns 876 shares of the business services provider's stock worth $38,000 after buying an additional 583 shares during the period. Finally, Manchester Capital Management LLC bought a new position in Genpact in the 4th quarter worth approximately $38,000. 96.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Nicholas C. Gangestad acquired 2,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the transaction, the director now owns 2,000 shares of the company's stock, valued at $87,940. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer now owns 310,246 shares in the company, valued at $15,167,926.94. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. 3.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on G. Jefferies Financial Group raised shares of Genpact from a "hold" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $55.00 in a report on Tuesday, January 21st. Mizuho increased their target price on shares of Genpact from $45.00 to $55.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. TD Cowen upgraded shares of Genpact from a "hold" rating to a "buy" rating and increased their target price for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Robert W. Baird lowered their target price on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Needham & Company LLC lowered their target price on shares of Genpact from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $50.71.

Genpact Stock Performance

Genpact stock opened at $44.28 on Friday. The firm's fifty day moving average price is $48.02 and its 200-day moving average price is $47.13. 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 stock has a market cap of $7.78 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.84 and a beta of 1.02. Genpact Limited has a fifty-two week low of $30.38 and a fifty-two week high of $56.76.

Genpact (NYSE:G - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. Genpact had a net margin of 10.77% and a return on equity of 22.50%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.73 EPS. On average, equities research analysts expect that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Company Profile

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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