Victory Capital Management Inc. Has $488.30 Million Holdings in Genpact Limited (NYSE:G)

Victory Capital Management Inc. lowered its stake in Genpact Limited (NYSE:G - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,692,244 shares of the business services provider's stock after selling 161,193 shares during the quarter. Genpact comprises 0.5% of Victory Capital Management Inc.'s portfolio, making the stock its 25th largest position. Victory Capital Management Inc. owned about 5.52% of Genpact worth $488,295,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on G. Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Genpact in a research note on Monday, June 30th. Robert W. Baird decreased their target price on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Mizuho lifted their target price on Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Genpact currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.14.

Insider Activity

In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the acquisition, the director owned 2,000 shares of the company's stock, valued at $87,940. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by insiders.

Genpact Stock Performance

Shares of NYSE G traded up $0.78 during mid-day trading on Wednesday, hitting $44.87. The company had a trading volume of 1,090,920 shares, compared to its average volume of 1,425,003. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.96 and a beta of 0.94. Genpact Limited has a 12 month low of $32.18 and a 12 month high of $56.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 2.45. The firm's 50 day simple moving average is $43.63 and its two-hundred day simple moving average is $47.06.

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 the consensus estimate of $0.80 by $0.04. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the business earned $0.73 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Announces Dividend

The business also recently announced 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, September 11th. Genpact's payout ratio is 23.21%.

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.