Victory Capital Management Inc. Sells 851,052 Shares of Genpact Limited (NYSE:G)

Victory Capital Management Inc. lessened its holdings in Genpact Limited (NYSE:G) by 9.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,341,647 shares of the business services provider’s stock after selling 851,052 shares during the period. Victory Capital Management Inc.’s holdings in Genpact were worth $327,076,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of Genpact during the first quarter valued at $703,000. Empowered Funds LLC acquired a new position in shares of Genpact in the 1st quarter valued at $1,937,000. Concurrent Investment Advisors LLC increased its holdings in Genpact by 25.5% in the 1st quarter. Concurrent Investment Advisors LLC now owns 23,352 shares of the business services provider’s stock valued at $769,000 after purchasing an additional 4,748 shares during the last quarter. Headlands Technologies LLC increased its stake in Genpact by 2,366.8% during the first quarter. Headlands Technologies LLC now owns 5,057 shares of the business services provider’s stock worth $167,000 after purchasing an additional 4,852 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in Genpact by 6.5% during the 1st quarter. QRG Capital Management Inc. now owns 58,432 shares of the business services provider’s stock worth $1,925,000 after purchasing an additional 3,589 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Genpact Price Performance

G stock traded down $0.31 during trading on Tuesday, hitting $46.35. The company had a trading volume of 353,953 shares, compared to its average volume of 1,323,861. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.92 and a beta of 1.13. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $39.18 and a 200 day moving average of $35.68. Genpact Limited has a fifty-two week low of $30.23 and a fifty-two week high of $47.98.

Genpact Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given a dividend of $0.1525 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Monday, December 9th. Genpact’s dividend payout ratio (DPR) is presently 16.76%.

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.