Sequoia Financial Advisors LLC Sells 15,224 Shares of Genpact Limited (NYSE:G)

Sequoia Financial Advisors LLC decreased its holdings in Genpact Limited (NYSE:G - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,672 shares of the business services provider's stock after selling 15,224 shares during the period. Sequoia Financial Advisors LLC's holdings in Genpact were worth $387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Phillips Wealth Planners LLC lifted its stake in shares of Genpact by 20.3% in the 1st quarter. Phillips Wealth Planners LLC now owns 5,591 shares of the business services provider's stock valued at $264,000 after purchasing an additional 944 shares during the period. Sylvest Advisors LLC lifted its stake in shares of Genpact by 2.8% in the 1st quarter. Sylvest Advisors LLC now owns 17,644 shares of the business services provider's stock valued at $889,000 after purchasing an additional 475 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Genpact in the 1st quarter valued at about $679,000. Suncoast Equity Management lifted its stake in shares of Genpact by 63.3% in the 1st quarter. Suncoast Equity Management now owns 23,101 shares of the business services provider's stock valued at $1,164,000 after purchasing an additional 8,955 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Genpact by 59.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,355 shares of the business services provider's stock valued at $522,000 after purchasing an additional 3,849 shares during the period. Institutional investors own 96.03% of the company's stock.

Genpact Stock Up 0.0%

NYSE:G opened at $44.99 on Thursday. The firm has a market capitalization of $7.87 billion, a P/E ratio of 15.35, a PEG ratio of 1.96 and a beta of 0.94. The company's fifty day moving average price is $44.39 and its 200-day moving average price is $46.89. Genpact Limited has a 1-year low of $30.38 and a 1-year high of $56.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 2.45.

Genpact (NYSE:G - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 earnings per share 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 analysts' expectations of $1.21 billion. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, equities research analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. Genpact's dividend payout ratio is currently 23.21%.

Insider Activity

In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the firm's stock in a transaction 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 transaction, the director directly owned 2,000 shares of the company's stock, valued at approximately $87,940. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on G. Wall Street Zen raised Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird reduced their target price on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Genpact in a report on Monday. Finally, Mizuho upped their target price on Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Genpact currently has an average rating of "Moderate Buy" and a consensus price target of $50.14.

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.

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.