M&T Bank Corp Buys Shares of 5,262 Genpact Limited (NYSE:G)

M&T Bank Corp purchased a new position in shares of Genpact Limited (NYSE:G) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,262 shares of the business services provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently modified their holdings of G. Dimensional Fund Advisors LP raised its stake in Genpact by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock worth $107,065,000 after acquiring an additional 847,249 shares during the period. Vulcan Value Partners LLC grew its holdings in Genpact by 22.2% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock valued at $50,456,000 after buying an additional 284,842 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Genpact by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 1,512,259 shares of the business services provider’s stock worth $48,680,000 after buying an additional 122,993 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Genpact by 130.3% during the second quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider’s stock worth $37,465,000 after acquiring an additional 658,560 shares during the last quarter. Finally, ARGA Investment Management LP grew its stake in Genpact by 29.9% during the third quarter. ARGA Investment Management LP now owns 677,504 shares of the business services provider’s stock valued at $26,565,000 after acquiring an additional 155,889 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Genpact Stock Performance

Genpact stock opened at $42.30 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $7.46 billion, a PE ratio of 11.62, a P/E/G ratio of 1.56 and a beta of 1.18. The company has a 50 day moving average price of $42.69 and a 200-day moving average price of $38.02. Genpact Limited has a fifty-two week low of $30.23 and a fifty-two week high of $47.98.

Genpact Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 yield of 1.44%. The ex-dividend date is Monday, December 9th. Genpact’s dividend payout ratio (DPR) is presently 16.76%.

Insiders Place Their Bets

In other news, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction on Friday, December 13th. The stock was sold at an average price of $44.60, for a total value of $606,560.00. Following the transaction, the chief executive officer now directly owns 267,404 shares in the company, valued at approximately $11,926,218.40. This trade represents a 4.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 23,058 shares of company stock worth $1,044,715 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on G shares. TD Cowen raised their price target on Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a report on Friday, November 8th. Needham & Company LLC increased their target price on Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group boosted their price target on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Robert W. Baird lifted their price objective on shares of Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.33.

About Genpact

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.