Fmr LLC Lowers Holdings in Genpact Limited (G)

Fmr LLC lessened its position in shares of Genpact Limited (NYSE:G) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,728,731 shares of the business services provider’s stock after selling 84,856 shares during the period. Fmr LLC owned about 0.05% of Genpact worth $297,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. FIL Ltd bought a new position in Genpact during the 3rd quarter worth about $55,908,000. Blue Sky Asset Management LLC bought a new position in shares of Genpact in the 3rd quarter valued at about $964,000. Martingale Asset Management L P grew its holdings in shares of Genpact by 4.4% in the 3rd quarter. Martingale Asset Management L P now owns 1,210,746 shares of the business services provider’s stock valued at $37,062,000 after acquiring an additional 50,807 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Genpact by 108.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,887 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 2,026 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Genpact by 20.1% in the 3rd quarter. Alliancebernstein L.P. now owns 3,612,107 shares of the business services provider’s stock valued at $110,567,000 after acquiring an additional 603,618 shares in the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.

Several equities analysts have recently weighed in on the company. Zacks Investment Research restated a “buy” rating and issued a $30.00 price objective on shares of Genpact in a report on Tuesday, November 13th. Cowen restated a “buy” rating and issued a $35.00 price objective on shares of Genpact in a report on Wednesday, November 7th. Cantor Fitzgerald restated a “buy” rating and issued a $36.00 price objective on shares of Genpact in a report on Wednesday, August 8th. Wells Fargo & Co set a $32.00 price objective on Genpact and gave the company a “hold” rating in a report on Wednesday, November 7th. Finally, SunTrust Banks restated a “buy” rating and issued a $37.00 price objective on shares of Genpact in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.31.

Shares of NYSE:G opened at $30.38 on Monday. Genpact Limited has a 52-week low of $26.46 and a 52-week high of $34.79. The stock has a market capitalization of $5.77 billion, a P/E ratio of 19.86, a PEG ratio of 1.94 and a beta of 0.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.31 and a quick ratio of 1.31.

Genpact (NYSE:G) last issued its earnings results on Tuesday, November 6th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Genpact had a net margin of 9.31% and a return on equity of 22.26%. The business had revenue of $747.98 million during the quarter, compared to the consensus estimate of $754.93 million. During the same period last year, the business posted $0.46 EPS. Genpact’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Genpact Limited will post 1.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Monday, December 10th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.30 annualized dividend and a yield of 0.99%. Genpact’s dividend payout ratio (DPR) is currently 20.13%.

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About Genpact

Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; over-the counter services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.

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Institutional Ownership by Quarter for Genpact (NYSE:G)

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