Wedge Capital Management L L P NC Sells 8,800 Shares of Genpact Limited $G

Key Points

• Wedge Capital Management L L P NC reduced its stake in Genpact Limited by 21.8%, selling 8,800 shares during the second quarter, leaving them with 31,646 shares valued at approximately $1.39 million.
• Recent transactions include significant sales by senior executives, with SVP Piyush Mehta selling 76,902 shares and CEO Balkrishan Kalra selling 55,000 shares, resulting in notable decreases in their ownership stakes.
• Analyst ratings for Genpact have varied, with recent downgrades by both JPMorgan and Wall Street Zen, while Needham & Company upgraded their price target contributing to an average target price of $52.29.

Wedge Capital Management L L P NC lowered its holdings in Genpact Limited (NYSE:G - Free Report) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,646 shares of the business services provider's stock after selling 8,800 shares during the quarter. Wedge Capital Management L L P NC's holdings in Genpact were worth $1,393,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of G. Cornerstone Planning Group LLC purchased a new position in shares of Genpact in the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. purchased a new position in shares of Genpact in the 1st quarter worth approximately $35,000. SVB Wealth LLC purchased a new position in shares of Genpact in the 1st quarter worth approximately $41,000. Kestra Investment Management LLC purchased a new position in shares of Genpact in the 1st quarter worth approximately $56,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Genpact in the 1st quarter worth approximately $57,000. Institutional investors own 96.03% of the company's stock.

Insider Buying and Selling at Genpact

In related news, SVP Piyush Mehta sold 76,902 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $42.58, for a total transaction of $3,274,487.16. Following the sale, the senior vice president directly owned 134,880 shares of the company's stock, valued at approximately $5,743,190.40. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Balkrishan Kalra sold 55,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $43.36, for a total transaction of $2,384,800.00. Following the sale, the chief executive officer directly owned 295,246 shares in the company, valued at $12,801,866.56. This trade represents a 15.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

G has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Genpact from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Genpact in a research report on Thursday, July 17th. They issued a "hold" rating and a $47.00 price objective on the stock. Wall Street Zen downgraded shares of Genpact from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Mizuho boosted their target price on shares of Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Needham & Company LLC boosted their target price on shares of Genpact from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.29.

Genpact Stock Up 0.1%

G stock opened at $41.17 on Tuesday. The firm's fifty day simple moving average is $43.97 and its 200-day simple moving average is $45.37. The company has a market capitalization of $7.17 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.53 and a quick ratio of 1.53. Genpact Limited has a 12 month low of $37.82 and a 12 month high of $56.76.

Genpact (NYSE:G - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The business services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.85 by $0.03. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Genpact had a net margin of 10.92% and a return on equity of 22.15%. The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Genpact has set its FY 2025 guidance at 3.510-3.580 EPS. Q3 2025 guidance at 0.890-0.900 EPS. As a group, equities research analysts forecast that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 11th. Genpact's dividend payout ratio is 22.59%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.