VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Genpact Limited $G

Key Points

• Virginia Retirement Systems bought 52,800 Genpact shares worth approximately $1.45 million in the second quarter. Institutional investors collectively own 96.03% of the company.
• Analysts maintain a cautious outlook, with Genpact carrying a consensus “Hold” rating and an average price target of $39.33; the stock recently opened at $35.14.
• Genpact reported quarterly earnings of $1.00 per share on $1.34 billion in revenue and declared a quarterly dividend of $0.1875 per share, equating to a 2.1% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Genpact Limited (NYSE:G - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 52,800 shares of the business services provider's stock, valued at approximately $1,452,000.

Other large investors also recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of Genpact by 2,558.7% in the 2nd quarter. California State Teachers Retirement System now owns 5,047,048 shares of the business services provider's stock valued at $138,794,000 after buying an additional 4,857,216 shares during the period. AQR Capital Management LLC increased its stake in shares of Genpact by 90.9% during the fourth quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider's stock worth $307,584,000 after buying an additional 3,131,643 shares during the period. FIL Ltd raised its holdings in Genpact by 114.4% in the fourth quarter. FIL Ltd now owns 4,802,854 shares of the business services provider's stock valued at $224,678,000 after acquiring an additional 2,562,484 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Genpact by 26.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,010,764 shares of the business services provider's stock valued at $234,409,000 after acquiring an additional 1,032,554 shares in the last quarter. Finally, Nalanda India Equity Fund Ltd lifted its stake in Genpact by 8.0% in the fourth quarter. Nalanda India Equity Fund Ltd now owns 13,702,500 shares of the business services provider's stock worth $641,003,000 after acquiring an additional 1,015,556 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on G. Deutsche Bank Aktiengesellschaft set a $31.00 price target on shares of Genpact in a report on Friday, July 10th. TD Cowen lifted their price objective on shares of Genpact from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Genpact from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings lowered Genpact from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, June 24th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $40.00 price target on shares of Genpact in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Genpact has a consensus rating of "Hold" and a consensus target price of $39.33.

Genpact Stock Performance

Shares of Genpact stock opened at $35.14 on Friday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.93 and a beta of 0.58. Genpact Limited has a 52 week low of $26.85 and a 52 week high of $48.64. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.44. The firm's 50 day moving average is $34.09 and its two-hundred day moving average is $34.29.

Genpact (NYSE:G - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The business services provider reported $1.00 earnings per share for the quarter. The company had revenue of $1.34 billion for the quarter. Genpact had a net margin of 11.04% and a return on equity of 23.34%. Research analysts forecast that Genpact Limited will post 3.66 EPS for the current fiscal year.

Genpact Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, September 10th. Genpact's dividend payout ratio (DPR) is currently 22.26%.

Insiders Place Their Bets

In other Genpact news, SVP Anil Nanduru sold 6,191 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $37.03, for a total value of $229,252.73. Following the completion of the transaction, the senior vice president owned 70,253 shares in the company, valued at $2,601,468.59. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.58% of the stock is currently owned by company insiders.

About Genpact

Genpact is a global professional services and technology company that helps organizations transform business processes and improve operational performance. Its services combine artificial intelligence, data and analytics, cloud technologies, digital engineering, and process expertise to support functions such as finance and accounting, procurement, supply chain management, customer care, risk management, and insurance operations.

The company serves clients across industries including banking and capital markets, insurance, healthcare and life sciences, consumer goods and retail, high technology, manufacturing, and professional services.

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