Genpact Limited (NYSE:G) Stake Lowered by AE Wealth Management LLC

AE Wealth Management LLC cut its stake in shares of Genpact Limited (NYSE:G) by 18.1% in the 1st quarter, Holdings Channel reports. The firm owned 6,377 shares of the business services provider’s stock after selling 1,414 shares during the quarter. AE Wealth Management LLC’s holdings in Genpact were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its stake in Genpact by 59.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,355 shares of the business services provider’s stock valued at $522,000 after purchasing an additional 3,849 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Genpact by 20.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,650 shares of the business services provider’s stock worth $486,000 after acquiring an additional 1,651 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Genpact by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 9,744 shares of the business services provider’s stock worth $491,000 after acquiring an additional 4,561 shares in the last quarter. 111 Capital bought a new stake in shares of Genpact during the 4th quarter worth $301,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Genpact during the 4th quarter worth $921,000. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Genpact in a report on Monday, June 30th. Mizuho increased their price objective on Genpact from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Robert W. Baird cut their price objective on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on Genpact in a report on Thursday, July 17th. They set a “hold” rating and a $47.00 price objective for the company. Finally, Wall Street Zen upgraded Genpact from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Genpact currently has an average rating of “Moderate Buy” and an average price target of $49.75.

Genpact Trading Down 2.0%

Genpact stock opened at $44.28 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 2.45. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.72 and a beta of 0.94. Genpact Limited has a one year low of $32.18 and a one year high of $56.76. The company’s fifty day moving average price is $43.98 and its two-hundred day moving average price is $47.21.

Genpact (NYSE:G) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. On average, analysts forecast that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, September 11th. Genpact’s dividend payout ratio is currently 23.21%.

Insider Activity

In related news, Director Nicholas C. Gangestad bought 2,000 shares of Genpact stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at approximately $87,940. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Genpact Company 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.