Mackenzie Financial Corp Purchases New Holdings in Genpact Limited (NYSE:G)

Mackenzie Financial Corp acquired a new stake in shares of Genpact Limited (NYSE:G - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 126,698 shares of the business services provider's stock, valued at approximately $6,383,000. Mackenzie Financial Corp owned about 0.07% of Genpact as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in Genpact by 202.8% in the first quarter. LPL Financial LLC now owns 109,819 shares of the business services provider's stock worth $5,533,000 after acquiring an additional 73,551 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Genpact by 18.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,847 shares of the business services provider's stock worth $2,562,000 after purchasing an additional 7,854 shares during the period. Applied Finance Capital Management LLC purchased a new position in shares of Genpact in the 1st quarter valued at about $222,000. Assetmark Inc. lifted its stake in shares of Genpact by 17.7% in the first quarter. Assetmark Inc. now owns 6,975 shares of the business services provider's stock valued at $351,000 after purchasing an additional 1,048 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Genpact by 288.3% in the first quarter. Cetera Investment Advisers now owns 51,526 shares of the business services provider's stock valued at $2,596,000 after purchasing an additional 38,257 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on G shares. Mizuho lifted their price target on shares of Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft started coverage on Genpact in a research note on Thursday, July 17th. They issued a "hold" rating and a $47.00 price objective for the company. Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Robert W. Baird lowered their target price on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Genpact in a research report on Monday, June 30th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.75.

Genpact Stock Performance

Shares of G opened at $42.44 on Friday. The firm has a fifty day moving average of $43.97 and a 200-day moving average of $47.19. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.67 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 Limited has a 1 year low of $32.18 and a 1 year high of $56.76.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, equities analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Announces Dividend

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

Insider Activity at Genpact

In other Genpact news, Director Nicholas C. Gangestad bought 2,000 shares of Genpact stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average cost 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 approximately $87,940. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.07% of the company's stock.

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.

Want to see what other hedge funds are holding G? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genpact Limited (NYSE:G - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.