Millennium Management LLC Boosts Stock Position in Genpact Limited (NYSE:G)

Millennium Management LLC boosted its position in Genpact Limited (NYSE:G - Free Report) by 829.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,057,389 shares of the business services provider's stock after acquiring an additional 943,622 shares during the period. Millennium Management LLC owned 0.60% of Genpact worth $45,415,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Wedge Capital Management L L P NC lifted its stake in shares of Genpact by 6.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 46,179 shares of the business services provider's stock valued at $1,983,000 after purchasing an additional 2,830 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Genpact by 18.9% during the 4th quarter. HB Wealth Management LLC now owns 10,224 shares of the business services provider's stock worth $439,000 after acquiring an additional 1,627 shares during the period. Kera Capital Partners Inc. bought a new position in Genpact during the fourth quarter worth $268,000. Aaron Wealth Advisors LLC grew its holdings in Genpact by 8.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,437 shares of the business services provider's stock worth $319,000 after acquiring an additional 548 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Genpact by 55.7% in the 4th quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider's stock worth $52,000 after purchasing an additional 433 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Genpact Stock Up 0.7%

Shares of NYSE G traded up $0.33 during trading hours on Tuesday, hitting $44.43. 1,145,587 shares of the stock were exchanged, compared to its average volume of 1,367,191. The company has a market cap of $7.77 billion, a PE ratio of 15.64, a PEG ratio of 1.84 and a beta of 1.02. Genpact Limited has a 12 month low of $30.38 and a 12 month high of $56.76. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $47.92 and a 200-day moving average price of $47.30.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.04. Genpact had a net margin of 10.77% and a return on equity of 22.50%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Genpact Limited will post 3.21 EPS for the current year.

Insider Activity at Genpact

In related news, Director Nicholas C. Gangestad bought 2,000 shares of the business's 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 completion of the purchase, the director now owns 2,000 shares of the company's stock, valued at $87,940. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the completion of the transaction, the chief executive officer now directly owns 310,246 shares in the company, valued at $15,167,926.94. This represents a 4.20% decrease in their position. The disclosure for this sale can be found here. 3.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on G shares. Robert W. Baird cut their price objective on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. TD Cowen raised shares of Genpact from a "hold" rating to a "buy" rating and lifted their target price for the company from $45.00 to $60.00 in a report on Friday, February 7th. Mizuho raised their price objective on shares of Genpact from $45.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Jefferies Financial Group raised shares of Genpact from a "hold" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $55.00 in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reduced their target price on shares of Genpact from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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.