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

Wedge Capital Management L L P NC cut its stake in Genpact Limited (NYSE:G - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC raised its position in shares of Genpact by 529.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider's stock worth $25,000 after acquiring an additional 503 shares in the last quarter. SRH Advisors LLC bought a new stake in Genpact in the fourth quarter worth approximately $26,000. Atlas Capital Advisors Inc. increased its holdings in Genpact by 55.8% in the fourth quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider's stock worth $26,000 after purchasing an additional 216 shares in the last quarter. Manchester Capital Management LLC acquired a new position in Genpact in the fourth quarter valued at approximately $38,000. Finally, GeoWealth Management LLC boosted its holdings in shares of Genpact by 199.0% during the 4th quarter. GeoWealth Management LLC now owns 876 shares of the business services provider's stock worth $38,000 after buying an additional 583 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Genpact Stock Down 0.5%

Shares of G traded down $0.23 on Thursday, reaching $43.62. The company's stock had a trading volume of 986,470 shares, compared to its average volume of 1,382,487. Genpact Limited has a twelve month low of $30.38 and a twelve month high of $56.76. The stock has a market capitalization of $7.63 billion, a PE ratio of 15.36, a PEG ratio of 1.84 and a beta of 0.94. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $45.60 and a 200-day moving average of $47.15.

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 return on equity of 22.50% and a net margin of 10.77%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $0.73 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts predict that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, June 18th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, June 18th. Genpact's payout ratio is currently 23.21%.

Analyst Ratings Changes

A number of equities research analysts have commented on G shares. Needham & Company LLC reduced their price target on shares of Genpact from $55.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Robert W. Baird dropped their price target on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Genpact currently has an average rating of "Moderate Buy" and a consensus target price of $50.71.

Insiders Place Their Bets

In other Genpact news, Director Nicholas C. Gangestad bought 2,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average cost of $43.97 per share, with a total value of $87,940.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at $87,940. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.07% of the company's stock.

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.