State of Alaska Department of Revenue Sells 149,680 Shares of Genpact Limited (NYSE:G)

State of Alaska Department of Revenue cut its holdings in Genpact Limited (NYSE:G - Free Report) by 44.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 186,462 shares of the business services provider's stock after selling 149,680 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.11% of Genpact worth $9,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new stake in Genpact in the fourth quarter worth about $2,030,000. 111 Capital bought a new position in Genpact during the fourth quarter worth about $301,000. Pictet Asset Management Holding SA bought a new position in Genpact during the fourth quarter worth about $921,000. Proficio Capital Partners LLC bought a new position in Genpact during the fourth quarter worth about $983,000. Finally, Assenagon Asset Management S.A. bought a new position in Genpact during the first quarter worth about $2,396,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on G. Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird cut their price objective on 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 cut their price objective on Genpact from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Four 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $50.71.

Insider Buying and Selling at Genpact

In related news, Director Nicholas C. Gangestad bought 2,000 shares of Genpact stock in a transaction dated Tuesday, May 13th. The shares were bought at an average cost of $43.97 per share, with a total value of $87,940.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $87,940. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.07% of the company's stock.

Genpact Stock Down 3.5%

Shares of NYSE:G traded down $1.48 during trading on Friday, hitting $40.63. 4,414,808 shares of the company were exchanged, compared to its average volume of 1,395,953. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.59 and a beta of 0.94. Genpact Limited has a fifty-two week low of $30.38 and a fifty-two week high of $56.76. The firm has a fifty day moving average price of $45.09 and a two-hundred day moving average price of $46.99. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.48.

Genpact (NYSE:G - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, research analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The firm also recently announced 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Wednesday, June 18th. Genpact's payout ratio is presently 23.21%.

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.