34,842 Shares in Genpact Limited (NYSE:G) Bought by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new position in Genpact Limited (NYSE:G - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,842 shares of the business services provider's stock, valued at approximately $1,755,000.

Several other hedge funds have also recently made changes to their positions in G. State of New Jersey Common Pension Fund D purchased a new position in shares of Genpact during the 4th quarter worth $2,030,000. 111 Capital bought a new position in Genpact in the 4th quarter worth $301,000. Pictet Asset Management Holding SA purchased a new position in Genpact during the fourth quarter valued at $921,000. Proficio Capital Partners LLC bought a new stake in Genpact during the fourth quarter valued at about $983,000. Finally, Cetera Investment Advisers increased its position in Genpact by 4.7% in the fourth quarter. Cetera Investment Advisers now owns 13,269 shares of the business services provider's stock worth $570,000 after buying an additional 595 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Genpact

In other Genpact news, Director Nicholas C. Gangestad acquired 2,000 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of $43.97 per share, with a total value of $87,940.00. Following the transaction, the director now directly owns 2,000 shares of the company's stock, valued at $87,940. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.07% of the stock is currently owned by insiders.

Genpact Price Performance

Genpact stock traded down $0.23 during mid-day trading on Thursday, reaching $43.62. 986,470 shares of the company's stock traded hands, compared to its average volume of 1,382,487. Genpact Limited has a 12-month low of $30.38 and a 12-month high of $56.76. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $45.60 and a two-hundred day moving average of $47.15. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.84 and a beta of 0.94.

Genpact (NYSE:G - Get Free Report) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.04. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the previous year, the business earned $0.73 EPS. The company's quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.68 annualized dividend and a yield of 1.56%. Genpact's payout ratio is 23.21%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Genpact from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Robert W. Baird lowered their price target on shares of 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 dropped their price target on shares of Genpact from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Genpact presently has an average rating of "Moderate Buy" and an average target price of $50.71.

About Genpact

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.