Genpact Limited $G Position Boosted by Access Investment Management LLC

Key Points

• Access Investment Management increased its Genpact stake by 17.1% in the third quarter to 365,455 shares valued at approximately $11.9 million. Hedge funds and other institutional investors collectively own 96.03% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $39.67; individual targets range from $36 to $45, with two Buy ratings and seven Hold ratings.
• Genpact shares opened at $40.86, while the company reported $1.00 in quarterly EPS on $1.34 billion in revenue and announced a quarterly dividend of $0.1875 per share, representing a 1.8% annualized yield.

Access Investment Management LLC lifted its position in Genpact Limited (NYSE:G - Free Report) by 17.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,455 shares of the business services provider's stock after purchasing an additional 53,453 shares during the period. Genpact comprises about 3.1% of Access Investment Management LLC's portfolio, making the stock its 8th biggest holding. Access Investment Management LLC owned about 0.22% of Genpact worth $11,888,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Genpact by 42.0% during the third quarter. Signaturefd LLC now owns 11,144 shares of the business services provider's stock worth $363,000 after purchasing an additional 3,297 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in Genpact in the 3rd quarter worth $354,000. Root Financial Partners LLC purchased a new stake in Genpact in the 3rd quarter worth $30,000. Vest Financial LLC raised its position in Genpact by 10.1% during the third quarter. Vest Financial LLC now owns 201,772 shares of the business services provider's stock worth $6,564,000 after acquiring an additional 18,433 shares during the period. Finally, Sawyer & Company Inc acquired a new position in Genpact during the third quarter worth $955,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on G. Needham & Company LLC decreased their price objective on shares of Genpact from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Citigroup lifted their target price on shares of Genpact from $32.00 to $36.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. TD Cowen boosted their target price on shares of Genpact from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Genpact from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $40.00 price target on shares of Genpact in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.67.

Genpact Stock Up 0.1%

Shares of NYSE G opened at $40.86 on Monday. The stock has a market cap of $6.83 billion, a PE ratio of 12.12, a P/E/G ratio of 1.09 and a beta of 0.57. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.44. Genpact Limited has a 12-month low of $26.85 and a 12-month high of $48.64. The company has a 50-day moving average of $35.80 and a 200 day moving average of $33.56.

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

Genpact Announces Dividend

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

Insider Buying and Selling

In other Genpact news, SVP Anil Nanduru sold 6,191 shares of Genpact stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $37.03, for a total transaction of $229,252.73. Following the transaction, the senior vice president directly owned 70,253 shares of the company's stock, valued at $2,601,468.59. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.58% of the stock is owned by company insiders.

Genpact Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.