Fmr LLC Sells 2,424,455 Shares of Genpact Limited (NYSE:G)

Fmr LLC lowered its position in shares of Genpact Limited (NYSE:G) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,570,836 shares of the business services provider’s stock after selling 2,424,455 shares during the period. Fmr LLC owned approximately 13.79% of Genpact worth $963,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Genpact by 160.8% during the 2nd quarter. CWM LLC now owns 952 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 587 shares during the last quarter. Versant Capital Management Inc grew its position in Genpact by 4,717.8% in the 2nd quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock worth $70,000 after purchasing an additional 2,123 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Genpact by 54.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,797 shares of the business services provider’s stock valued at $90,000 after buying an additional 984 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Genpact by 74.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after buying an additional 1,121 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Genpact by 221.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock worth $131,000 after buying an additional 2,293 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Stock Down 0.7 %

Shares of G stock opened at $46.49 on Thursday. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.85. The company’s fifty day moving average price is $40.70 and its 200-day moving average price is $36.76. Genpact Limited has a one year low of $30.23 and a one year high of $47.98.

Genpact Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be paid a $0.1525 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, December 9th. Genpact’s dividend payout ratio (DPR) is 16.76%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on G. TD Cowen upped their price objective on Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets upped their price target on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Robert W. Baird upped their target price on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC increased their price target on shares of Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.33.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.40, for a total value of $417,600.00. Following the sale, the chief executive officer now owns 267,404 shares in the company, valued at $12,407,545.60. The trade was a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by company insiders.

Genpact 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.