Rhumbline Advisers Sells 21,043 Shares of Genpact Limited (NYSE:G)

Rhumbline Advisers cut its holdings in Genpact Limited (NYSE:G - Free Report) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 508,218 shares of the business services provider's stock after selling 21,043 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Genpact worth $25,604,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Coppell Advisory Solutions LLC boosted its holdings in Genpact by 529.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider's stock worth $25,000 after acquiring an additional 503 shares in the last quarter. SRH Advisors LLC purchased a new position in shares of Genpact in the 4th quarter worth about $26,000. Atlas Capital Advisors Inc. raised its position in shares of Genpact by 55.8% in the 4th quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider's stock worth $26,000 after purchasing an additional 216 shares during the last quarter. Manchester Capital Management LLC bought a new position in Genpact in the 4th quarter worth about $38,000. Finally, GeoWealth Management LLC grew its position in Genpact by 199.0% during the 4th quarter. GeoWealth Management LLC now owns 876 shares of the business services provider's stock valued at $38,000 after purchasing an additional 583 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday. Mizuho raised their price target on shares of Genpact from $45.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Robert W. Baird lowered their price objective on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Needham & Company LLC reduced their target price on Genpact from $55.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.71.

Genpact Stock Performance

Shares of G traded up $0.07 during mid-day trading on Monday, hitting $43.20. 2,395,192 shares of the company traded hands, compared to its average volume of 1,381,660. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.84 and a beta of 0.94. The stock has a 50-day moving average price of $45.83 and a two-hundred day moving average price of $47.22. Genpact Limited has a 1 year low of $30.38 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16.

Genpact (NYSE:G - Get Free Report) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Genpact had a net margin of 10.77% and a return on equity of 22.50%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Equities analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, June 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.68 annualized dividend and a yield of 1.57%. Genpact's payout ratio is 23.21%.

Insider Buying and Selling at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the completion of the sale, the chief executive officer now owns 310,246 shares of the company's stock, valued at approximately $15,167,926.94. The trade was a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nicholas C. Gangestad purchased 2,000 shares of Genpact stock in a transaction on Tuesday, May 13th. The stock was bought at an average price of $43.97 per share, with a total value of $87,940.00. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at approximately $87,940. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.