Envestnet Asset Management Inc. Raises Stock Holdings in Genpact Limited (NYSE:G)

Envestnet Asset Management Inc. increased its position in Genpact Limited (NYSE:G - Free Report) by 124.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,343 shares of the business services provider's stock after buying an additional 228,391 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of Genpact worth $20,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Genpact by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,962,496 shares of the business services provider's stock worth $728,539,000 after purchasing an additional 61,376 shares during the period. Franklin Resources Inc. increased its stake in shares of Genpact by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 4,203,956 shares of the business services provider's stock valued at $180,560,000 after buying an additional 55,771 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Genpact by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,848,449 shares of the business services provider's stock valued at $165,288,000 after buying an additional 208,759 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 valued at $170,175,000 after buying an additional 133,938 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Genpact by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,400,636 shares of the business services provider's stock worth $146,057,000 after purchasing an additional 271,295 shares during the period. Institutional investors own 96.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Genpact Price Performance

G traded down $0.09 on Friday, hitting $45.37. 792,344 shares of the company's stock traded hands, compared to its average volume of 1,426,453. The company's 50 day simple moving average is $43.75 and its 200-day simple moving average is $47.13. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.97 and a beta of 0.94. Genpact Limited has a one year low of $32.18 and a one year high of $56.76. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.48.

Genpact (NYSE:G - Get Free Report) last issued 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 company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. As a group, research 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. Stockholders of record on Thursday, September 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Thursday, September 11th. Genpact's dividend payout ratio (DPR) is 23.21%.

Insider Activity at Genpact

In related news, Director Nicholas C. Gangestad bought 2,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the acquisition, the director owned 2,000 shares in the company, valued at $87,940. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.07% of the company's stock.

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.