Paralel Advisors LLC Grows Holdings in Genpact Limited (NYSE:G)

Paralel Advisors LLC grew its holdings in Genpact Limited (NYSE:G) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 76,196 shares of the business services provider’s stock after acquiring an additional 6,920 shares during the quarter. Paralel Advisors LLC’s holdings in Genpact were worth $3,273,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in shares of Genpact in the 4th quarter valued at $5,552,000. Renaissance Group LLC purchased a new stake in Genpact in the fourth quarter valued at approximately $211,000. Renaissance Technologies LLC boosted its stake in shares of Genpact by 26.6% in the fourth quarter. Renaissance Technologies LLC now owns 155,500 shares of the business services provider’s stock valued at $6,679,000 after purchasing an additional 32,651 shares during the period. Legal & General Group Plc boosted its position in Genpact by 77.1% during the 4th quarter. Legal & General Group Plc now owns 333,333 shares of the business services provider’s stock valued at $14,317,000 after purchasing an additional 145,112 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Genpact by 17.5% in the 4th quarter. Federated Hermes Inc. now owns 15,142 shares of the business services provider’s stock worth $650,000 after buying an additional 2,256 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the sale, the chief executive officer now owns 310,246 shares of the company’s stock, valued at $15,167,926.94. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the completion of the transaction, the senior vice president now directly owns 151,182 shares in the company, valued at $6,475,125.06. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Genpact Trading Down 2.1 %

Genpact stock traded down $0.99 during trading hours on Thursday, reaching $47.13. The company had a trading volume of 59,589 shares, compared to its average volume of 1,349,808. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85. The company has a 50-day moving average price of $51.09 and a 200 day moving average price of $45.67. Genpact Limited has a 12-month low of $30.23 and a 12-month high of $56.76. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 1.84 and a beta of 1.06.

Genpact (NYSE:G) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. Equities analysts forecast that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Tuesday, March 11th. This is a positive change from Genpact’s previous quarterly dividend of $0.15. Genpact’s payout ratio is currently 23.94%.

Analyst Ratings Changes

Several research firms have commented on G. Mizuho upped their price target on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 10th. TD Cowen upgraded shares of Genpact from a “hold” rating to a “buy” rating and lifted their price target for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Needham & Company LLC boosted their price objective on shares of Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of Genpact from a “hold” rating to a “buy” rating and increased their price objective for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.44.

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.