Genpact Limited (NYSE:G) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in shares of Genpact Limited (NYSE:G) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 434,605 shares of the business services provider’s stock after selling 15,240 shares during the quarter. Retirement Systems of Alabama owned about 0.25% of Genpact worth $17,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Oddo BHF Asset Management Sas purchased a new position in Genpact in the 3rd quarter worth $1,323,000. Franklin Resources Inc. increased its holdings in shares of Genpact by 6.5% in the third quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock valued at $162,318,000 after purchasing an additional 252,674 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Genpact by 52.9% in the third quarter. Sanctuary Advisors LLC now owns 16,573 shares of the business services provider’s stock worth $650,000 after purchasing an additional 5,734 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Genpact by 12.6% during the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock worth $148,142,000 after purchasing an additional 413,646 shares during the period. Finally, M&T Bank Corp purchased a new stake in Genpact in the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Stock Performance

NYSE G opened at $44.67 on Friday. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.56 and a beta of 1.18. The stock has a 50-day moving average of $42.38 and a 200 day moving average of $37.78. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a twelve month low of $30.23 and a twelve month high of $47.98.

Genpact Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be paid a dividend of $0.1525 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, December 9th. Genpact’s payout ratio is 16.76%.

Insider Activity

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.40, for a total transaction of $417,600.00. Following the completion of the sale, the chief executive officer now directly owns 267,404 shares in the company, valued at approximately $12,407,545.60. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on G. JPMorgan Chase & Co. raised their price target on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC boosted their target price on shares of Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen upped their price target on shares of Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group lifted their price objective on Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Finally, Robert W. Baird upped their target price on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Genpact has a consensus rating of “Hold” and an average target price of $42.33.

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.