Weiss Asset Management LP Has $6.33 Million Position in Genpact Limited (NYSE:G)

Weiss Asset Management LP trimmed its stake in shares of Genpact Limited (NYSE:G) by 9.7% in the third quarter, HoldingsChannel.com reports. The fund owned 161,447 shares of the business services provider’s stock after selling 17,438 shares during the quarter. Weiss Asset Management LP’s holdings in Genpact were worth $6,330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC grew its stake in Genpact by 160.8% during the second quarter. CWM LLC now owns 952 shares of the business services provider’s stock worth $31,000 after purchasing an additional 587 shares during the period. Venturi Wealth Management LLC increased its position in Genpact by 74.6% in the third quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock worth $103,000 after buying an additional 1,121 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Genpact by 221.3% in the third quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 2,293 shares in the last quarter. Centaurus Financial Inc. bought a new stake in Genpact during the third quarter valued at $159,000. Finally, Greenleaf Trust bought a new stake in Genpact during the third quarter valued at $210,000. 96.03% of the stock is currently owned by institutional investors.

Insider Transactions at Genpact

In other news, CEO Balkrishan Kalra sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 267,404 shares in the company, valued at $12,407,545.60. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Genpact Stock Performance

Shares of G stock opened at $45.16 on Friday. The business’s fifty day simple moving average is $41.84 and its 200-day simple moving average is $37.37. The company has a market cap of $7.96 billion, a PE ratio of 12.41, a PEG ratio of 1.57 and a beta of 1.18. 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 12-month low of $30.23 and a 12-month high of $47.98.

Genpact Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be issued a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Monday, December 9th. Genpact’s payout ratio is 16.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on 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 raised their price objective on Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, September 9th. TD Cowen raised their price target on Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Robert W. Baird raised their price target on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets raised their price target on Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.