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

State of Alaska Department of Revenue cut its position in Genpact Limited (NYSE:G - Free Report) by 44.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,462 shares of the business services provider's stock after selling 149,680 shares during the period. State of Alaska Department of Revenue owned about 0.11% of Genpact worth $9,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Coppell Advisory Solutions LLC grew its stake in Genpact by 529.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider's stock valued at $25,000 after acquiring an additional 503 shares in the last quarter. Atlas Capital Advisors Inc. grew its stake in Genpact by 55.8% during the fourth quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider's stock valued at $26,000 after acquiring an additional 216 shares in the last quarter. GeoWealth Management LLC grew its stake in Genpact by 199.0% during the fourth quarter. GeoWealth Management LLC now owns 876 shares of the business services provider's stock valued at $38,000 after acquiring an additional 583 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Genpact by 416.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider's stock valued at $41,000 after acquiring an additional 783 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in Genpact by 38.8% during the fourth quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider's stock valued at $69,000 after acquiring an additional 453 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Genpact

In other news, Director Nicholas C. Gangestad bought 2,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the acquisition, the director now owns 2,000 shares of the company's stock, valued at $87,940. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on G shares. Needham & Company LLC cut their target price on shares of Genpact from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Robert W. Baird cut their target price on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Genpact presently has an average rating of "Moderate Buy" and a consensus target price of $50.71.

Genpact Price Performance

Shares of NYSE:G traded down $1.48 on Friday, reaching $40.63. The company's stock had a trading volume of 4,414,808 shares, compared to its average volume of 1,393,424. Genpact Limited has a 52-week low of $30.38 and a 52-week high of $56.76. The company has a market cap of $7.10 billion, a P/E ratio of 13.87, a PEG ratio of 1.54 and a beta of 0.94. The company has a 50-day simple moving average of $45.09 and a 200 day simple moving average of $47.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.45 and a current ratio of 2.45.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.88% and a return on equity of 22.35%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same period last year, the company posted $0.73 EPS. The business's revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, June 18th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.68 annualized dividend and a dividend yield of 1.67%. Genpact's dividend payout ratio (DPR) is presently 23.21%.

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.