New York State Common Retirement Fund Sells 293,937 Shares of Genpact Limited (NYSE:G)

New York State Common Retirement Fund trimmed its position in Genpact Limited (NYSE:G - Free Report) by 61.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,835 shares of the business services provider's stock after selling 293,937 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Genpact worth $9,161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC purchased a new stake in Genpact in the first quarter worth $27,000. Coppell Advisory Solutions LLC lifted its position in Genpact by 529.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider's stock valued at $25,000 after buying an additional 503 shares during the period. Atlas Capital Advisors Inc. lifted its position in Genpact by 55.8% during the fourth quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider's stock valued at $26,000 after buying an additional 216 shares during the period. GeoWealth Management LLC lifted its position in Genpact by 199.0% during the fourth quarter. GeoWealth Management LLC now owns 876 shares of the business services provider's stock valued at $38,000 after buying an additional 583 shares during the period. Finally, Global X Japan Co. Ltd. purchased a new position in Genpact during the first quarter valued at $57,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Genpact Trading Down 0.2%

G traded down $0.09 during trading on Friday, reaching $45.37. 792,344 shares of the company's stock were exchanged, compared to its average volume of 1,426,453. The company's fifty day moving average price is $43.75 and its 200-day moving average price is $47.13. The firm has a market capitalization of $7.93 billion, a PE ratio of 15.48, a P/E/G ratio of 1.97 and a beta of 0.94. Genpact Limited has a fifty-two week low of $32.18 and a fifty-two week high of $56.76. 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 announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.04. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business earned $0.73 EPS. Genpact's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Mizuho boosted their price objective on Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Genpact in a research note on Thursday. They set a "hold" rating and a $47.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of Genpact in a research note on Monday, June 30th. Finally, Robert W. Baird cut 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. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.75.

Insiders Place Their Bets

In other Genpact news, Director Nicholas C. Gangestad acquired 2,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was bought at an average price of $43.97 per share, with a total value of $87,940.00. Following the purchase, the director owned 2,000 shares of the company's stock, valued at approximately $87,940. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company 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.