The Manufacturers Life Insurance Company cut its holdings in shares of Genpact Limited (NYSE:G – Get Rating ) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,246 shares of the business services provider’s stock after selling 7,862 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Genpact worth $6,708,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Genpact during the second quarter valued at approximately $4,590,000. Brown Brothers Harriman & Co. raised its position in shares of Genpact by 25.9% in the second quarter. Brown Brothers Harriman & Co. now owns 1,021 shares of the business services provider’s stock valued at $43,000 after buying an additional 210 shares during the period. CWM LLC raised its position in shares of Genpact by 22.2% in the second quarter. CWM LLC now owns 1,255 shares of the business services provider’s stock valued at $53,000 after buying an additional 228 shares during the period. Castleview Partners LLC acquired a new position in shares of Genpact during the second quarter valued at approximately $70,000. Finally, Ellevest Inc. lifted its position in shares of Genpact by 336.8% during the third quarter. Ellevest Inc. now owns 1,839 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 1,418 shares during the period. 95.17% of the shares are owned by institutional investors.
The Wall Street analyst weighs in
A number of research analysts recently issued reports on G. JPMorgan Chase & Co. shares. downgraded shares of Genpact from an “overweight” rating to a “neutral” rating and cut their target price for the company from $55.00 to $50.00 in a research report on Thursday, December 15th. StockNews.com raised shares of Genpact from a “buy” rating to a “strong-buy” rating in a research report on Friday. Citigroup cut their target price on shares of Genpact from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 10th. Robert W. Baird decreased their target price on shares of Genpact from $56.00 to $54.00 in a research report on Thursday, November 10th. Finally, BMO Capital Markets cut their target price on shares of Genpact from $57.00 to $51.00 and set a “market perform” rating on the stock in a research report on Thursday, November 10th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Genpact currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00, according to MarketBeat.com .
Genpact Stock Performance
Shares of G stock opened at $46.90 on Friday. The firm has a market cap of $8.59 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The firm has a fifty day simple moving average of $45.99 and a two hundred day simple moving average of $46.03. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.43. Genpact Limited has a 12-month low of $37.68 and a 12-month high of $50.26.
Genpact (NYSE:G – Get Rating) last posted its earnings results on Wednesday, November 9. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Genpact had a net margin of 7.76% and a return on equity of 23.73%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ estimates of $1.08 billion. analysts predict that Genpact Limited will post 2.42 EPS for the current fiscal year.
Genpact Insider Transactions
In other news, SVP Heather White sold 5,225 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $46.72, for a total value of $244,112.00. Following the completion of the sale, the senior vice president now owns 20,933 shares in the company, valued at approximately $977,989.76. The transaction was disclosed in a document filed with the SEC, which is available via this hyperlink. In related news, Director Carol Lindstrom sold 2,703 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $45.37, for a total transaction of $122,635.11. Following the completion of the transaction, the director now owns 19,505 shares in the company, valued at $884,941.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Heather White sold 5,225 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $46.72, for a total transaction of $244,112.00. Following the transaction, the senior vice president now owns 20,933 shares of the company’s stock, valued at approximately $977,989.76. Disclosure of this sale can be found here. Insiders sold a total of 312,928 shares of company stock worth $14,455,797 in the last quarter. 2.67% of shares are currently owned by corporate insiders.
Genpact profile
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Genpakt EOOD deals with business process management, outsourcing, shared services and information outsourcing. The company operates in the following segments: Banking, Capital Markets and Insurance (BCMI), Consumer Goods, Retail, Life Sciences and Healthcare (CGRLH) and High Technology, Manufacturing and Services (HMS).
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