Genpact Limited (NYSE:G) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its stake in Genpact Limited (NYSE:G - Free Report) by 24.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,661 shares of the business services provider's stock after selling 63,770 shares during the period. Kingsview Wealth Management LLC owned about 0.11% of Genpact worth $10,059,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in Genpact during the 1st quarter worth about $115,807,000. Norges Bank bought a new stake in shares of Genpact in the 4th quarter valued at about $90,516,000. Lord Abbett & CO. LLC bought a new stake in shares of Genpact in the 4th quarter valued at about $60,110,000. Millennium Management LLC boosted its holdings 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 buying an additional 943,622 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Genpact by 9,371.4% in the 1st quarter. GAMMA Investing LLC now owns 490,903 shares of the business services provider's stock valued at $24,732,000 after buying an additional 485,720 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insider Activity at Genpact

In other Genpact news, Director Nicholas C. Gangestad bought 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average cost of $43.97 per share, with a total value of $87,940.00. Following the purchase, the director directly owned 2,000 shares in the company, valued at approximately $87,940. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.07% of the company's stock.

Genpact Trading Down 0.2%

NYSE:G traded down $0.09 on Friday, hitting $45.37. The stock had a trading volume of 792,344 shares, compared to its average volume of 1,423,061. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.48. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.96 and a beta of 0.94. The company has a fifty day moving average price of $43.69 and a two-hundred day moving average price of $47.08. Genpact Limited has a 1-year low of $32.18 and a 1-year high of $56.76.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The firm 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 business posted $0.73 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts expect that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a $0.17 dividend. The ex-dividend date is Thursday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.50%. Genpact's dividend payout ratio is currently 23.21%.

Analysts Set New Price Targets

G has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genpact in a report on Thursday. They issued a "hold" rating and a $47.00 price target for the company. Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird decreased their price target on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price target on shares of Genpact in a report on Monday, June 30th. Finally, Mizuho raised their price target on shares of Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genpact has a consensus rating of "Moderate Buy" and a consensus price target of $49.75.

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.