ING Groep NV Buys Shares of 73,300 Genpact Limited (NYSE:G)

ING Groep NV bought a new position in shares of Genpact Limited (NYSE:G) in the third quarter, HoldingsChannel reports. The firm bought 73,300 shares of the business services provider’s stock, valued at approximately $2,874,000.

Several other institutional investors and hedge funds also recently modified their holdings of G. Cable Hill Partners LLC raised its holdings in shares of Genpact by 7.9% in the third quarter. Cable Hill Partners LLC now owns 6,864 shares of the business services provider’s stock worth $269,000 after acquiring an additional 501 shares during the last quarter. Loudon Investment Management LLC raised its stake in Genpact by 9.7% in the 3rd quarter. Loudon Investment Management LLC now owns 141,425 shares of the business services provider’s stock valued at $5,545,000 after purchasing an additional 12,490 shares during the last quarter. Access Investment Management LLC raised its stake in Genpact by 44.0% in the 3rd quarter. Access Investment Management LLC now owns 212,875 shares of the business services provider’s stock valued at $8,347,000 after purchasing an additional 65,070 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Genpact by 74.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Genpact during the 3rd quarter worth about $19,779,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on G. Robert W. Baird upped their price objective on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. upped their target price on Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. BMO Capital Markets raised their price target on Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Finally, TD Cowen increased their price objective on shares of Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.33.

Genpact Stock Down 0.7 %

Shares of NYSE:G opened at $44.79 on Friday. The stock has a 50-day simple moving average of $39.74 and a 200-day simple moving average of $36.06. The stock has a market capitalization of $7.98 billion, a P/E ratio of 12.30, a PEG ratio of 1.63 and a beta of 1.13. Genpact Limited has a 1 year low of $30.23 and a 1 year high of $47.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.89 and a current ratio of 1.85.

Genpact Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.1525 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.61 annualized dividend and a yield of 1.36%. Genpact’s dividend payout ratio is currently 16.76%.

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.