Vestcor Inc Makes New $675,000 Investment in Genpact Limited (NYSE:G)

Key Points

• Vestcor Inc acquired 13,407 shares of Genpact Limited, valued at approximately $675,000, as part of the firm's new stake in the company during the first quarter.
• Multiple institutional investors have increased their stakes in Genpact, with LPL Financial LLC boosting its ownership by 202.8%, now holding over 109,000 shares worth over $5.5 million.
• Genpact announced a quarterly dividend of $0.17 per share, set to be paid on September 25th, representing an annualized yield of 1.6% based on its current share price.

Vestcor Inc purchased a new stake in Genpact Limited (NYSE:G - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,407 shares of the business services provider's stock, valued at approximately $675,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Genpact by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,848,449 shares of the business services provider's stock valued at $165,288,000 after acquiring an additional 208,759 shares in the last quarter. Geode Capital Management LLC raised its stake in Genpact by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 3,825,344 shares of the business services provider's stock worth $170,175,000 after acquiring an additional 133,938 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Genpact during the first quarter valued at $115,807,000. Tandem Investment Advisors Inc. increased its position in shares of Genpact by 6.6% during the 1st quarter. Tandem Investment Advisors Inc. now owns 2,270,143 shares of the business services provider's stock worth $114,370,000 after purchasing an additional 140,228 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Genpact during the 4th quarter valued at about $60,110,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on G shares. Robert W. Baird reduced their target price on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genpact in a report on Thursday, July 17th. They issued a "hold" rating and a $47.00 target price on the stock. Mizuho boosted their price target on shares of Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Genpact in a research note on Monday, June 30th. Finally, Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Genpact currently has an average rating of "Moderate Buy" and an average target price of $49.75.

Genpact Trading Down 0.6%

G traded down $0.24 during trading on Tuesday, hitting $42.31. The company's stock had a trading volume of 2,304,714 shares, compared to its average volume of 1,333,413. The stock's fifty day moving average price is $43.91 and its 200-day moving average price is $47.18. The firm has a market capitalization of $7.40 billion, a P/E ratio of 14.44, a PEG ratio of 1.62 and a beta of 0.92. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.48. Genpact Limited has a twelve month low of $32.18 and a twelve month high of $56.76.

Genpact (NYSE:G - Get Free Report) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. Analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 11th. Genpact's payout ratio is presently 23.21%.

Insiders Place Their Bets

In other news, Director Nicholas C. Gangestad purchased 2,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was purchased at an average price of $43.97 per share, with a total value of $87,940.00. Following the completion of the purchase, the director directly owned 2,000 shares in the company, valued at approximately $87,940. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by insiders.

About Genpact

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.