Genpact Limited $G Shares Sold by Paralel Advisors LLC

Key Points

• Paralel Advisors LLC sold 23,144 shares of Genpact Limited, reducing its position by 30.4% in the second quarter, leaving it with 53,052 shares valued at approximately $2.34 million.
• Multiple institutional investors have recently adjusted their stakes in Genpact, with JPMorgan Chase & Co. increasing its holdings by 20.9% in the first quarter, now owning over 4 million shares worth over $207 million.
• Genpact reported a 6.6% year-over-year revenue increase for the last quarter, posting $1.25 billion in revenue and $0.88 EPS, exceeding analysts' expectations.

Paralel Advisors LLC reduced its position in shares of Genpact Limited (NYSE:G - Free Report) by 30.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,052 shares of the business services provider's stock after selling 23,144 shares during the period. Paralel Advisors LLC's holdings in Genpact were worth $2,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Genpact by 20.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,111,340 shares of the business services provider's stock valued at $207,129,000 after buying an additional 710,704 shares during the period. Alliancebernstein L.P. lifted its holdings in Genpact by 4.1% in the first quarter. Alliancebernstein L.P. now owns 3,045,542 shares of the business services provider's stock valued at $153,434,000 after acquiring an additional 118,689 shares during the last quarter. Nordea Investment Management AB grew its position in Genpact by 60.2% in the second quarter. Nordea Investment Management AB now owns 2,617,255 shares of the business services provider's stock worth $114,924,000 after acquiring an additional 983,774 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new position in Genpact in the first quarter worth approximately $115,807,000. Finally, Tandem Investment Advisors Inc. increased its stake in Genpact by 6.6% during the first quarter. Tandem Investment Advisors Inc. now owns 2,270,143 shares of the business services provider's stock worth $114,370,000 after acquiring an additional 140,228 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Genpact news, SVP Piyush Mehta sold 76,902 shares of Genpact stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $42.58, for a total value of $3,274,487.16. Following the transaction, the senior vice president directly owned 134,880 shares in the company, valued at approximately $5,743,190.40. This trade represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Balkrishan Kalra sold 55,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $43.36, for a total value of $2,384,800.00. Following the completion of the transaction, the chief executive officer directly owned 295,246 shares in the company, valued at approximately $12,801,866.56. The trade was a 15.70% decrease in their position. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on G. Needham & Company LLC boosted their price objective on shares of Genpact from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, August 8th. Wall Street Zen cut shares of Genpact from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Citigroup began coverage on shares of Genpact in a report on Wednesday. They issued a "neutral" rating and a $43.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genpact in a research report on Thursday, July 17th. They set a "hold" rating and a $47.00 price objective for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Genpact in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Genpact presently has an average rating of "Hold" and a consensus target price of $51.13.

Genpact Stock Down 1.4%

Shares of NYSE G opened at $39.75 on Thursday. The business has a 50-day moving average of $42.45 and a two-hundred day moving average of $44.04. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. Genpact Limited has a 1 year low of $37.82 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.53 and a quick ratio of 1.53.

Genpact (NYSE:G - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The business services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.03. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Genpact had a return on equity of 22.15% and a net margin of 10.92%.The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. Genpact has set its FY 2025 guidance at 3.510-3.580 EPS. Q3 2025 guidance at 0.890-0.900 EPS. On average, analysts forecast that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $0.68 annualized dividend and a yield of 1.7%. Genpact's dividend payout ratio is currently 22.59%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.