Cresset Asset Management LLC Trims Position in Genpact Limited (NYSE:G)

Cresset Asset Management LLC cut its position in Genpact Limited (NYSE:G - Free Report) by 71.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,294 shares of the business services provider's stock after selling 38,899 shares during the period. Cresset Asset Management LLC's holdings in Genpact were worth $657,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in Genpact by 4.7% in the 4th quarter. Cetera Investment Advisers now owns 13,269 shares of the business services provider's stock valued at $570,000 after purchasing an additional 595 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Genpact by 803.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 425,465 shares of the business services provider's stock valued at $18,274,000 after buying an additional 378,352 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Genpact during the fourth quarter valued at about $1,150,000. Ameriprise Financial Inc. increased its position in shares of Genpact by 19.6% during the fourth quarter. Ameriprise Financial Inc. now owns 769,827 shares of the business services provider's stock worth $33,064,000 after acquiring an additional 126,361 shares in the last quarter. Finally, Ancora Advisors LLC raised its holdings in shares of Genpact by 15.9% in the 4th quarter. Ancora Advisors LLC now owns 10,025 shares of the business services provider's stock worth $431,000 after acquiring an additional 1,375 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Genpact Stock Performance

Genpact stock traded down $0.11 during mid-day trading on Monday, reaching $44.08. 1,257,282 shares of the company's stock were exchanged, compared to its average volume of 1,368,078. The business's fifty day simple moving average is $47.92 and its 200 day simple moving average is $47.30. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. Genpact Limited has a one year low of $30.38 and a one year high of $56.76. The firm has a market capitalization of $7.71 billion, a PE ratio of 15.52, a P/E/G ratio of 1.84 and a beta of 1.02.

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

Insiders Place Their Bets

In other news, Director Nicholas C. Gangestad bought 2,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was acquired at an average cost of $43.97 per share, with a total value of $87,940.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company's stock, valued at $87,940. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the transaction, the chief executive officer now owns 310,246 shares of the company's stock, 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. Insiders own 3.07% of the company's stock.

Genpact 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.