Genpact Limited (NYSE:G) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Genpact Limited (NYSE:G - Free Report) by 124.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 412,343 shares of the business services provider's stock after purchasing an additional 228,391 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of Genpact worth $20,774,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. purchased a new position in Genpact during the 1st quarter valued at about $115,807,000. Norges Bank purchased a new stake in Genpact during the 4th quarter worth approximately $90,516,000. Lord Abbett & CO. LLC purchased a new position in Genpact in the 4th quarter valued at approximately $60,110,000. Millennium Management LLC grew its stake in shares of Genpact by 829.4% in the fourth quarter. Millennium Management LLC now owns 1,057,389 shares of the business services provider's stock worth $45,415,000 after acquiring an additional 943,622 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Genpact by 9,371.4% during the first quarter. GAMMA Investing LLC now owns 490,903 shares of the business services provider's stock worth $24,732,000 after acquiring an additional 485,720 shares during the period. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Nicholas C. Gangestad bought 2,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at $87,940. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.07% of the stock is currently owned by company insiders.

Genpact Price Performance

Shares of G traded down $0.09 during trading hours on Friday, reaching $45.37. 792,344 shares of the company traded hands, compared to its average volume of 1,423,061. The stock has a market capitalization of $7.93 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.94. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $43.69 and a 200 day simple moving average of $47.08. Genpact Limited has a fifty-two week low of $32.18 and a fifty-two week high of $56.76.

Genpact (NYSE:G - Get Free Report) last released its earnings results on Wednesday, May 7th. The business services provider reported $0.84 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 22.35% and a net margin of 10.88%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, research analysts predict that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a $0.17 dividend. The ex-dividend date is Thursday, September 11th. This represents a $0.68 annualized dividend and a yield of 1.50%. Genpact's payout ratio is 23.21%.

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.