Avantax Advisory Services Inc. Sells 2,466 Shares of Genpact Limited (NYSE:G)

Avantax Advisory Services Inc. lowered its stake in shares of Genpact Limited (NYSE:G) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,325 shares of the business services provider’s stock after selling 2,466 shares during the period. Avantax Advisory Services Inc.’s holdings in Genpact were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SRH Advisors LLC acquired a new stake in shares of Genpact during the fourth quarter worth about $26,000. Manchester Capital Management LLC acquired a new stake in shares of Genpact during the fourth quarter worth about $38,000. Smartleaf Asset Management LLC raised its position in shares of Genpact by 416.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider’s stock worth $41,000 after purchasing an additional 783 shares during the period. UMB Bank n.a. raised its position in shares of Genpact by 55.7% during the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock worth $52,000 after purchasing an additional 433 shares during the period. Finally, J.Safra Asset Management Corp raised its position in shares of Genpact by 38.8% during the fourth quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider’s stock worth $69,000 after purchasing an additional 453 shares during the period. Institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on G. Mizuho raised their price target on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. TD Cowen raised Genpact from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and lifted their target price for the company from $44.00 to $55.00 in a research report on Tuesday, January 21st. Finally, Needham & Company LLC lifted their target price on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.44.

Genpact Stock Down 3.2 %

NYSE:G opened at $49.46 on Friday. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. Genpact Limited has a twelve month low of $30.23 and a twelve month high of $56.76. The stock’s 50 day moving average price is $50.13 and its two-hundred day moving average price is $44.54. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. Equities research analysts expect that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.17 per share. This is an increase from Genpact’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Tuesday, March 11th. Genpact’s payout ratio is currently 23.94%.

Insider Transactions at Genpact

In related news, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the completion of the sale, the chief executive officer now directly owns 310,246 shares in the company, valued at $15,167,926.94. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Piyush Mehta sold 12,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the completion of the sale, the senior vice president now owns 151,182 shares of the company’s stock, valued at $6,475,125.06. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.