Howe & Rusling Inc. Cuts Stake in Genpact Limited (NYSE:G)

Howe & Rusling Inc. lowered its stake in shares of Genpact Limited (NYSE:G) by 19.6% during the fourth quarter, Holdings Channel reports. The fund owned 90,558 shares of the business services provider’s stock after selling 22,084 shares during the period. Howe & Rusling Inc.’s holdings in Genpact were worth $3,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of G. Retirement Systems of Alabama raised its stake in Genpact by 2.3% during the 4th quarter. Retirement Systems of Alabama now owns 428,746 shares of the business services provider’s stock worth $14,882,000 after acquiring an additional 9,448 shares in the last quarter. Russell Investments Group Ltd. raised its position in Genpact by 12.5% in the 4th quarter. Russell Investments Group Ltd. now owns 218,346 shares of the business services provider’s stock valued at $7,579,000 after purchasing an additional 24,259 shares during the last quarter. Truist Financial Corp boosted its stake in Genpact by 162.9% during the 4th quarter. Truist Financial Corp now owns 921,160 shares of the business services provider’s stock worth $31,973,000 after purchasing an additional 570,760 shares during the period. Semanteon Capital Management LP purchased a new position in Genpact during the 4th quarter worth $1,192,000. Finally, GAMMA Investing LLC acquired a new position in Genpact in the fourth quarter valued at $43,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Stock Down 0.1 %

Shares of G traded down $0.02 during midday trading on Wednesday, reaching $30.72. 999,960 shares of the company were exchanged, compared to its average volume of 1,524,752. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37. Genpact Limited has a 1-year low of $29.41 and a 1-year high of $44.58. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 1.46 and a beta of 1.07. The stock has a 50-day moving average price of $32.86 and a 200-day moving average price of $34.01.

Genpact (NYSE:G) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Genpact had a return on equity of 23.19% and a net margin of 14.10%. Research analysts expect that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were given a dividend of $0.153 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, March 8th. Genpact’s payout ratio is presently 17.78%.

Analyst Ratings Changes

Several analysts have recently weighed in on G shares. StockNews.com downgraded shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Citigroup decreased their target price on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Genpact in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their price objective on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Finally, Mizuho initiated coverage on Genpact in a research report on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.78.

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.