Genpact Limited (NYSE:G) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in shares of Genpact Limited (NYSE:G - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,027 shares of the business services provider's stock after selling 14,157 shares during the quarter. Teacher Retirement System of Texas' holdings in Genpact were worth $3,024,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its stake in 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 buying an additional 3,849 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Genpact by 20.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,650 shares of the business services provider's stock valued at $486,000 after buying an additional 1,651 shares in the last quarter. GAMMA Investing LLC lifted its stake in Genpact by 88.0% in the 1st quarter. GAMMA Investing LLC now owns 9,744 shares of the business services provider's stock valued at $491,000 after buying an additional 4,561 shares in the last quarter. 111 Capital purchased a new stake in Genpact in the 4th quarter valued at approximately $301,000. Finally, Pictet Asset Management Holding SA purchased a new stake in Genpact in the 4th quarter valued at approximately $921,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on G shares. Mizuho upped their target price on Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Robert W. Baird reduced their target price on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen raised Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Genpact in a research note on Monday, June 30th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.14.

Genpact Trading Down 0.2%

G traded down $0.07 during trading on Thursday, hitting $45.62. The company's stock had a trading volume of 177,907 shares, compared to its average volume of 1,411,353. The firm's 50 day moving average price is $44.12 and its 200-day moving average price is $47.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market cap of $7.98 billion, a PE ratio of 15.55, a PEG ratio of 2.01 and a beta of 0.94. Genpact Limited has a twelve month low of $30.38 and a twelve month high of $56.76.

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

Genpact Dividend Announcement

The company also recently disclosed 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 1.49%. Genpact's payout ratio is 23.21%.

Insider Activity at Genpact

In other news, Director Nicholas C. Gangestad acquired 2,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at approximately $87,940. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.07% of the stock is currently owned by 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.