The Manufacturers Life Insurance Company trimmed 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.
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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 in the 2nd quarter worth approximately $4,590,000. Brown Brothers Harriman & Co. lifted its position in shares of Genpact by 25.9% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,021 shares of the business services provider’s stock worth $43,000 after purchasing an additional 210 shares during the period. CWM LLC lifted its position in shares of Genpact by 22.2% in the 2nd quarter. CWM LLC now owns 1,255 shares of the business services provider’s stock worth $53,000 after purchasing an additional 228 shares during the period. Castleview Partners LLC acquired a new position in shares of Genpact in the 2nd quarter worth approximately $70,000. Finally, Ellevest Inc. lifted its position in shares of Genpact by 336.8% during the 3rd 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 stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on G shares. JPMorgan Chase & Co. downgraded shares of Genpact from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $50.00 in a research report on Thursday, December 15th. StockNews.com upgraded shares of Genpact from a “buy” rating to a “strong-buy” rating in a research report on Friday. Citigroup dropped 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 dropped 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 dropped 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. According to MarketBeat.com, Genpact currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.
Genpact Stock Performance
Shares of G stock opened at $46.90 on Friday. The firm has a market capitalization 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 9th. 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 analyst estimates of $1.08 billion. Analysts forecast that Genpact Limited will post 2.42 EPS for the current fiscal year.
Insider Transactions at Genpact
In other news, SVP Heather White sold 5,225 shares of the company’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 accessible through 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 document filed with the SEC, which is available through 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. The disclosure for 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 the stock is currently owned by corporate insiders.
Genpact Profile
Genpact Ltd. engages in the business process management, outsourcing, shared services and information outsourcing. The company operates through the following segments: Banking, Capital Markets and Insurance (BCMI), Consumer Goods, Retail, Life Sciences, and Healthcare (CGRLH) and High Tech, Manufacturing, and Services (HMS).
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