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

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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Genpact during the 1st quarter worth $115,807,000. Norges Bank bought a new stake in Genpact in the fourth quarter worth $90,516,000. Lord Abbett & CO. LLC purchased a new position in shares of Genpact during the 4th quarter worth about $60,110,000. Millennium Management LLC raised its position in Genpact by 829.4% in the 4th quarter. Millennium Management LLC now owns 1,057,389 shares of the business services provider's stock worth $45,415,000 after purchasing an additional 943,622 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Genpact by 9,371.4% in the first quarter. GAMMA Investing LLC now owns 490,903 shares of the business services provider's stock worth $24,732,000 after purchasing an additional 485,720 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on G. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Genpact in a report on Monday, June 30th. Robert W. Baird dropped their price objective on shares of 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 upgraded Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Mizuho lifted their price target on Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $50.14.

Genpact Price Performance

Shares of NYSE:G traded down $1.00 during midday trading on Friday, hitting $44.30. The company's stock had a trading volume of 1,127,913 shares, compared to its average volume of 1,420,223. Genpact Limited has a 12-month low of $32.18 and a 12-month high of $56.76. The company has a market cap of $7.75 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.45 and a current ratio of 2.45. The business's 50 day simple moving average is $43.93 and its 200 day simple moving average is $47.06.

Genpact (NYSE:G - Get Free Report) last announced 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. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The company's revenue was up 7.4% compared to the same quarter last year. On average, analysts forecast that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, September 11th. Genpact's payout ratio is 23.21%.

Insider Buying and Selling

In other Genpact news, Director Nicholas C. Gangestad bought 2,000 shares of Genpact stock in a transaction on Tuesday, May 13th. The shares were bought 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 $87,940. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.07% of the stock is owned by company insiders.

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.