Kingsview Wealth Management LLC Decreases Stock Position in Genpact Limited (NYSE:G)

Kingsview Wealth Management LLC lessened its stake in shares of Genpact Limited (NYSE:G - Free Report) by 24.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,661 shares of the business services provider's stock after selling 63,770 shares during the quarter. Kingsview Wealth Management LLC owned about 0.11% of Genpact worth $10,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in G. Envestnet Portfolio Solutions Inc. lifted its position in Genpact by 59.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,355 shares of the business services provider's stock valued at $522,000 after purchasing an additional 3,849 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Genpact by 20.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,650 shares of the business services provider's stock worth $486,000 after purchasing an additional 1,651 shares during the period. GAMMA Investing LLC grew its stake in shares of Genpact by 88.0% in the first quarter. GAMMA Investing LLC now owns 9,744 shares of the business services provider's stock worth $491,000 after acquiring an additional 4,561 shares during the last quarter. 111 Capital purchased a new stake in shares of Genpact in the fourth quarter worth $301,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Genpact in the fourth quarter worth $921,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

Genpact Stock Down 0.2%

Shares of G traded down $0.09 during trading hours on Friday, hitting $45.37. The company had a trading volume of 792,344 shares, compared to its average volume of 1,426,453. The company has a market capitalization of $7.93 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.73 and a beta of 0.94. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.48. Genpact Limited has a one year low of $32.18 and a one year high of $56.76. The company's fifty day moving average price is $43.75 and its two-hundred day moving average price is $47.16.

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 (EPS) 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company posted $0.73 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts forecast that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Dividend Announcement

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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.50%. The ex-dividend date is Thursday, September 11th. Genpact's dividend payout ratio (DPR) is 23.21%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on G. Mizuho boosted 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. Wall Street Zen raised Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Robert W. Baird decreased their target price on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Genpact in a research note on Monday, June 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Genpact in a research note on Thursday. They set a "hold" rating and a $47.00 target price on the stock. Five equities research 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.75.

Insider Buying and Selling

In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the transaction, the director owned 2,000 shares of the company's stock, valued at $87,940. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.80% of the stock is currently owned by company insiders.

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.