ING Groep NV Invests $1.21 Million in Genpact Limited (NYSE:G)

ING Groep NV acquired a new position in shares of Genpact Limited (NYSE:G - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,000 shares of the business services provider's stock, valued at approximately $1,209,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Genpact during the 1st quarter worth approximately $115,807,000. Lord Abbett & CO. LLC purchased a new stake in shares of Genpact during the fourth quarter valued at $60,110,000. Millennium Management LLC increased its position in shares of Genpact by 829.4% in 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 acquiring an additional 943,622 shares during the period. GAMMA Investing LLC raised its stake in Genpact by 9,371.4% in the 1st 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 last quarter. Finally, Squarepoint Ops LLC lifted its position in Genpact by 847.8% during the 4th quarter. Squarepoint Ops LLC now owns 354,549 shares of the business services provider's stock worth $15,228,000 after acquiring an additional 401,962 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Insider Buying and Selling at Genpact

In other news, Director Nicholas C. Gangestad acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the acquisition, the director owned 2,000 shares in the company, valued at approximately $87,940. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.07% of the stock is currently owned by insiders.

Genpact Stock Performance

Shares of G traded up $1.87 during trading hours on Friday, hitting $43.59. The stock had a trading volume of 2,940,103 shares, compared to its average volume of 1,569,202. The firm has a 50-day moving average price of $43.85 and a 200 day moving average price of $47.10. Genpact Limited has a fifty-two week low of $35.42 and a fifty-two week high of $56.76. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.59 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.45 and a current ratio of 2.45.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The business services provider reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.03. Genpact had a net margin of 10.92% and a return on equity of 22.55%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The company's revenue was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 11th. Genpact's dividend payout ratio is presently 23.21%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genpact in a research report on Thursday, July 17th. They set a "hold" rating and a $47.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 price objective (up from $50.00) on shares of Genpact in a report on Friday. Mizuho increased their price objective on shares of Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen upgraded shares of Genpact from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.13.

Genpact Company 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.