Third Avenue Management LLC decreased its holdings in Genpact Limited (NYSE:G) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 162,066 shares of the business services provider’s stock after selling 26,700 shares during the quarter. Third Avenue Management LLC owned 0.08% of Genpact Limited worth $4,660,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Riverhead Capital Management LLC acquired a new position in shares of Genpact Limited in the 2nd quarter valued at $886,000. Renaissance Technologies LLC acquired a new position in shares of Genpact Limited in the 1st quarter valued at $19,870,000. Dalton Investments LLC raised its stake in shares of Genpact Limited by 6.0% in the 2nd quarter. Dalton Investments LLC now owns 839,960 shares of the business services provider’s stock valued at $23,376,000 after buying an additional 47,300 shares in the last quarter. UBS Group AG raised its stake in shares of Genpact Limited by 108.4% in the 1st quarter. UBS Group AG now owns 28,743 shares of the business services provider’s stock valued at $712,000 after buying an additional 14,951 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Genpact Limited by 97.9% in the 2nd quarter. Voya Investment Management LLC now owns 112,834 shares of the business services provider’s stock valued at $3,140,000 after buying an additional 55,809 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.
In other Genpact Limited news, insider Mohit Thukral sold 25,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $28.37, for a total transaction of $709,250.00. Following the completion of the transaction, the insider now owns 85,305 shares of the company’s stock, valued at $2,420,102.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward J. Fitzpatrick sold 57,934 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $28.54, for a total value of $1,653,436.36. Following the transaction, the chief financial officer now directly owns 113,520 shares of the company’s stock, valued at approximately $3,239,860.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,379,170 shares of company stock valued at $298,097,116. Insiders own 1.41% of the company’s stock.
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Several equities research analysts have recently weighed in on G shares. Zacks Investment Research lowered shares of Genpact Limited from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and issued a $33.00 target price on shares of Genpact Limited in a report on Thursday, October 12th. Deutsche Bank AG upped their target price on shares of Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $32.00 target price on shares of Genpact Limited in a report on Wednesday, September 13th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $36.00 target price (up previously from $34.00) on shares of Genpact Limited in a report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.38.
Shares of Genpact Limited (NYSE:G) traded up 0.89% during midday trading on Tuesday, reaching $30.47. 159,565 shares of the company’s stock were exchanged. Genpact Limited has a 12 month low of $22.62 and a 12 month high of $31.93. The stock has a market cap of $5.88 billion, a PE ratio of 23.01 and a beta of 0.53. The company’s 50 day moving average is $29.04 and its 200-day moving average is $27.78.
Genpact Limited (NYSE:G) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. The business had revenue of $670.70 million during the quarter, compared to the consensus estimate of $642.68 million. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. Genpact Limited’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities analysts forecast that Genpact Limited will post $1.56 EPS for the current fiscal year.
About Genpact Limited
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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