Ritholtz Wealth Management Invests $382,000 in Genpact Limited (NYSE:G)

Ritholtz Wealth Management bought a new position in shares of Genpact Limited (NYSE:G - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,578 shares of the business services provider's stock, valued at approximately $382,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Genpact in the fourth quarter worth about $90,516,000. Tandem Investment Advisors Inc. grew its holdings in Genpact by 390.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider's stock worth $91,480,000 after acquiring an additional 1,695,706 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Genpact by 18.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider's stock valued at $423,205,000 after purchasing an additional 1,511,790 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Genpact during the 4th quarter valued at about $60,110,000. Finally, Millennium Management LLC boosted its stake in Genpact by 829.4% during the fourth quarter. Millennium Management LLC now owns 1,057,389 shares of the business services provider's stock worth $45,415,000 after acquiring an additional 943,622 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

G has been the subject of several research reports. 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 lowered their price objective on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Needham & Company LLC lowered their target price on shares of Genpact from $55.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Four investment 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. According to data from MarketBeat.com, Genpact presently has a consensus rating of "Moderate Buy" and an average price target of $50.71.

Genpact Stock Up 2.1%

Shares of Genpact stock traded up $0.86 on Monday, reaching $41.51. The stock had a trading volume of 1,783,887 shares, compared to its average volume of 1,394,985. The company has a 50 day moving average price of $44.96 and a 200 day moving average price of $46.99. The stock has a market capitalization of $7.26 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.54 and a beta of 0.94. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.48. Genpact Limited has a 1 year low of $30.38 and a 1 year high of $56.76.

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

Genpact Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, June 18th will be given a $0.17 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.68 dividend on an annualized basis and a yield of 1.64%. Genpact's payout ratio is currently 23.21%.

Insider Buying and Selling at Genpact

In other 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, for a total transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

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.