Mesirow Financial Investment Management Equity Management lessened its position in Genpact Limited (NYSE:G) by 57.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 128,530 shares of the business services provider’s stock after selling 170,210 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Genpact were worth $4,896,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of G. First Trust Advisors LP boosted its stake in shares of Genpact by 166.4% in the second quarter. First Trust Advisors LP now owns 218,668 shares of the business services provider’s stock valued at $8,329,000 after purchasing an additional 136,592 shares during the period. Highland Capital Management LLC bought a new position in Genpact during the 2nd quarter valued at $1,478,000. First Bank & Trust boosted its stake in Genpact by 4.2% during the 2nd quarter. First Bank & Trust now owns 18,631 shares of the business services provider’s stock valued at $710,000 after acquiring an additional 753 shares during the last quarter. Strs Ohio boosted its stake in Genpact by 23.5% during the 2nd quarter. Strs Ohio now owns 17,167 shares of the business services provider’s stock valued at $653,000 after acquiring an additional 3,263 shares during the last quarter. Finally, Pembroke Management LTD boosted its stake in Genpact by 30.1% during the 2nd quarter. Pembroke Management LTD now owns 390,480 shares of the business services provider’s stock valued at $14,873,000 after acquiring an additional 90,430 shares during the last quarter. 94.16% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:G traded up $0.01 on Friday, reaching $41.92. 1,268,912 shares of the company’s stock were exchanged, compared to its average volume of 1,069,655. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.30 and a beta of 0.82. Genpact Limited has a fifty-two week low of $25.48 and a fifty-two week high of $44.55. The business has a 50-day simple moving average of $38.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.38 and a quick ratio of 1.38.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th will be issued a dividend of $0.085 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.81%. Genpact’s dividend payout ratio (DPR) is 21.25%.
In related news, insider Private Ltd Gic sold 1,499,806 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $36.01, for a total value of $54,008,014.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bain Capital Investors Llc sold 8,500,194 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $36.01, for a total transaction of $306,091,985.94. The disclosure for this sale can be found here. Insiders have sold 10,001,058 shares of company stock worth $360,138,173 over the last three months. 1.86% of the stock is owned by corporate insiders.
A number of research analysts have commented on the stock. Wedbush increased their price objective on shares of Genpact from $33.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective (up from $44.00) on shares of Genpact in a research note on Thursday. Cantor Fitzgerald increased their price objective on shares of Genpact from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank increased their price objective on shares of Genpact from $36.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research downgraded shares of Genpact from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Genpact has a consensus rating of “Buy” and an average price target of $38.52.
Genpact Company Profile
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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