249,036 Genpact Limited $G Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Genpact position by 43.5% in the third quarter, selling 249,036 shares and retaining 323,715 shares worth approximately $10.5 million. Institutional investors collectively own 96.03% of Genpact.
• Analysts remain generally cautious, with Genpact holding an average “Hold” rating and a consensus price target of $39.67. Recent target changes ranged from $36 to $40, while Wall Street Zen upgraded the stock to “Buy.”
• Genpact shares opened at $41.84, up 6.4%, while the company reported quarterly revenue of $1.34 billion and EPS of $1.00. It also declared a quarterly dividend of $0.1875, equivalent to a 1.8% annual yield.

Crossmark Global Holdings Inc. trimmed its position in shares of Genpact Limited (NYSE:G - Free Report) by 43.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,715 shares of the business services provider's stock after selling 249,036 shares during the period. Crossmark Global Holdings Inc. owned approximately 0.19% of Genpact worth $10,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc bought a new position in shares of Genpact during the 3rd quarter valued at approximately $955,000. Nisa Investment Advisors LLC increased its position in Genpact by 40.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,175 shares of the business services provider's stock worth $103,000 after purchasing an additional 918 shares during the last quarter. Pension & Wealth Management Advisors Inc. purchased a new stake in Genpact during the third quarter valued at $27,000. Mather Group LLC. raised its stake in Genpact by 568.9% during the third quarter. Mather Group LLC. now owns 2,388 shares of the business services provider's stock valued at $78,000 after purchasing an additional 2,031 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of Genpact by 27.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 16,391 shares of the business services provider's stock worth $568,000 after buying an additional 3,549 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Anil Nanduru sold 6,191 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $37.03, for a total value of $229,252.73. Following the completion of the sale, the senior vice president owned 70,253 shares of the company's stock, valued at $2,601,468.59. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on G shares. BMO Capital Markets reissued a "market perform" rating and set a $40.00 target price on shares of Genpact in a research report on Friday, August 7th. Susquehanna boosted their price target on Genpact from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday. Citigroup increased their price objective on Genpact from $32.00 to $36.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Wall Street Zen upgraded Genpact from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd. Finally, Robert W. Baird decreased their target price on Genpact from $45.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $39.67.

Genpact Trading Up 6.4%

G opened at $41.84 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.05 and a beta of 0.57. Genpact Limited has a 12 month low of $26.85 and a 12 month high of $48.64. The stock has a fifty day moving average price of $35.66 and a 200-day moving average price of $33.54.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The business services provider reported $1.00 earnings per share (EPS) for the quarter. Genpact had a net margin of 11.04% and a return on equity of 23.34%. The firm had revenue of $1.34 billion for the quarter. As a group, equities research analysts anticipate that Genpact Limited will post 3.66 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Thursday, December 10th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, December 10th. Genpact's payout ratio is currently 22.26%.

About Genpact

Genpact NYSE: G is a global professional services and business process management company that helps organizations improve operations through digital transformation, data and analytics, artificial intelligence, and industry-specific expertise. The company combines technology with operational services to support clients across core business functions.

Its offerings include finance and accounting, procurement, supply chain management, customer experience, risk and compliance, insurance operations, and banking and capital markets services.

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