Nuveen Asset Management LLC Sells 10,704 Shares of Genpact Limited (NYSE:G)

Nuveen Asset Management LLC lowered its holdings in shares of Genpact Limited (NYSE:G - Free Report) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 536,066 shares of the business services provider's stock after selling 10,704 shares during the period. Nuveen Asset Management LLC owned about 0.30% of Genpact worth $23,024,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Mubadala Investment Co PJSC acquired a new position in Genpact in the 4th quarter worth about $2,421,000. Millennium Management LLC grew 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 buying an additional 943,622 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Genpact by 12.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 216,126 shares of the business services provider's stock valued at $9,282,000 after buying an additional 24,340 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Genpact by 115.3% in the 4th quarter. Lazard Asset Management LLC now owns 80,319 shares of the business services provider's stock valued at $3,448,000 after buying an additional 43,011 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Genpact in the 4th quarter valued at about $3,192,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on G. Needham & Company LLC reduced their price target on Genpact from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Mizuho upped their target price on Genpact from $45.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Robert W. Baird cut their price target on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, TD Cowen raised Genpact from a "hold" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $50.71.

Insiders Place Their Bets

In other Genpact news, Director Nicholas C. Gangestad acquired 2,000 shares of the company's stock in a transaction that occurred on 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 completion of the purchase, the director now owns 2,000 shares of the company's stock, valued at approximately $87,940. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $48.89, for a total value of $664,904.00. Following the sale, the chief executive officer now directly owns 310,246 shares of the company's stock, valued at $15,167,926.94. This represents a 4.20% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Genpact Stock Performance

Shares of G traded down $0.64 on Thursday, reaching $43.49. 301,551 shares of the company's stock traded hands, compared to its average volume of 1,571,248. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The stock has a market cap of $7.60 billion, a PE ratio of 15.30, a PEG ratio of 1.84 and a beta of 1.02. The stock's 50 day simple moving average is $47.04 and its two-hundred day simple moving average is $47.34. Genpact Limited has a 52-week low of $30.38 and a 52-week high of $56.76.

Genpact (NYSE:G - Get Free Report) last issued 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. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Genpact had a return on equity of 22.50% and a net margin of 10.77%. Genpact's revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. On average, analysts forecast that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

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.