Wedge Capital Management L L P NC Cuts Stake in Genpact Limited (NYSE:G)

Wedge Capital Management L L P NC cut its position in Genpact Limited (NYSE:G - Free Report) by 12.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 40,446 shares of the business services provider's stock after selling 5,733 shares during the period. Wedge Capital Management L L P NC's holdings in Genpact were worth $2,038,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR increased its holdings in Genpact by 372.7% in the 4th quarter. Stephens Inc. AR now owns 61,643 shares of the business services provider's stock valued at $2,648,000 after acquiring an additional 48,602 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of Genpact by 50.7% during the fourth quarter. Summit Trail Advisors LLC now owns 30,832 shares of the business services provider's stock valued at $1,324,000 after buying an additional 10,375 shares during the last quarter. SRH Advisors LLC bought a new stake in Genpact during the 4th quarter valued at about $26,000. Van ECK Associates Corp purchased a new stake in shares of Genpact in the fourth quarter valued at approximately $7,545,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Genpact during the fourth quarter valued at $38,000. Institutional investors own 96.03% of the company's stock.

Insiders Place Their Bets

In other Genpact news, Director Nicholas C. Gangestad acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the transaction, the director now owns 2,000 shares of the company's stock, valued at approximately $87,940. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.07% of the company's stock.

Genpact Price Performance

Genpact stock traded down $0.69 during midday trading on Friday, reaching $42.90. The company had a trading volume of 1,287,739 shares, compared to its average volume of 1,378,977. The firm's fifty day simple moving average is $45.56 and its 200-day simple moving average is $47.13. Genpact Limited has a 12-month low of $30.38 and a 12-month high of $56.76. The company has a market capitalization of $7.50 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 earnings per share. As a group, equities analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.59%. Genpact's payout ratio is 23.21%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on G shares. Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Needham & Company LLC cut their price target on shares of Genpact from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Robert W. Baird decreased their price objective on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $50.71.

About Genpact

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.