Zurcher Kantonalbank Zurich Cantonalbank Takes Position in Genpact Limited (G)
Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Genpact Limited (NYSE:G) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,700 shares of the business services provider’s stock, valued at approximately $365,000.
Several other hedge funds also recently added to or reduced their stakes in G. YorkBridge Wealth Partners LLC lifted its holdings in Genpact by 5.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock worth $106,000 after buying an additional 189 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Genpact by 569.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock worth $112,000 after buying an additional 3,419 shares during the period. Meeder Asset Management Inc. acquired a new stake in Genpact during the 3rd quarter worth $128,000. Bronfman E.L. Rothschild L.P. raised its stake in Genpact by 1.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,053 shares of the business services provider’s stock worth $141,000 after buying an additional 94 shares during the period. Finally, Advisor Group Inc. raised its stake in Genpact by 59.8% during the 3rd quarter. Advisor Group Inc. now owns 5,017 shares of the business services provider’s stock worth $145,000 after buying an additional 1,878 shares during the period. Institutional investors own 91.16% of the company’s stock.
Shares of Genpact Limited (NYSE:G) traded down $0.09 during trading hours on Wednesday, reaching $32.16. 1,607,600 shares of the company traded hands, compared to its average volume of 1,039,239. Genpact Limited has a twelve month low of $23.34 and a twelve month high of $32.51. The firm has a market cap of $6,225.62, a P/E ratio of 20.94, a P/E/G ratio of 2.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.65 and a quick ratio of 1.65.
Genpact (NYSE:G) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. Genpact had a net margin of 10.18% and a return on equity of 23.86%. The business had revenue of $708.82 million during the quarter, compared to the consensus estimate of $685.25 million. During the same period last year, the business posted $0.37 EPS. Genpact’s revenue was up 9.3% on a year-over-year basis. equities research analysts anticipate that Genpact Limited will post 1.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 8th will be paid a $0.06 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.24 annualized dividend and a yield of 0.75%. Genpact’s dividend payout ratio (DPR) is currently 17.39%.
In other Genpact news, insider Piyush Mehta sold 20,728 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $30.00, for a total transaction of $621,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Private Ltd Gic sold 1,499,806 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $30.26, for a total transaction of $45,384,129.56. The disclosure for this sale can be found here. Insiders sold a total of 1,575,051 shares of company stock valued at $47,739,747 over the last quarter. 1.41% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on the company. Robert W. Baird reiterated a “buy” rating and set a $38.00 target price on shares of Genpact in a report on Friday, November 10th. Zacks Investment Research upgraded Genpact from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a report on Friday, November 10th. Cantor Fitzgerald reiterated a “buy” rating and set a $36.00 target price on shares of Genpact in a report on Wednesday, November 8th. Wedbush reiterated an “outperform” rating and set a $33.00 target price on shares of Genpact in a report on Wednesday, August 9th. Finally, Cowen reiterated a “buy” rating and set a $33.00 target price on shares of Genpact in a report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Genpact presently has an average rating of “Buy” and a consensus price target of $33.38.
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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