Alliancebernstein L.P. Sells 105,670 Shares of Genpact Limited (NYSE:G)

Alliancebernstein L.P. cut its position in shares of Genpact Limited (NYSE:G) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,926,853 shares of the business services provider’s stock after selling 105,670 shares during the period. Alliancebernstein L.P. owned approximately 1.66% of Genpact worth $125,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of G. Vanguard Group Inc. increased its stake in Genpact by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,962,496 shares of the business services provider’s stock worth $728,539,000 after acquiring an additional 61,376 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Genpact by 18.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after purchasing an additional 1,511,790 shares during the last quarter. Franklin Resources Inc. raised its holdings in Genpact by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock valued at $162,318,000 after buying an additional 252,674 shares during the period. Geode Capital Management LLC lifted its position in Genpact by 12.6% in the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock worth $148,142,000 after buying an additional 413,646 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Genpact by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,400,636 shares of the business services provider’s stock worth $146,057,000 after buying an additional 271,295 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Genpact

In other news, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $42.83, for a total value of $513,960.00. Following the transaction, the senior vice president now directly owns 151,182 shares of the company’s stock, valued at approximately $6,475,125.06. This represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Balkrishan Kalra sold 13,600 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the completion of the transaction, the chief executive officer now owns 310,246 shares of the company’s stock, valued at approximately $15,167,926.94. The trade was a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Genpact Stock Performance

Shares of Genpact stock opened at $50.53 on Thursday. The company has a market capitalization of $8.88 billion, a PE ratio of 17.79, a P/E/G ratio of 1.84 and a beta of 1.06. The company has a 50-day simple moving average of $51.13 and a two-hundred day simple moving average of $45.31. Genpact Limited has a one year low of $30.23 and a one year high of $56.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16.

Genpact (NYSE:G) last posted its earnings results on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. Research analysts expect that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.35%. This is an increase from Genpact’s previous quarterly dividend of $0.15. Genpact’s dividend payout ratio is 23.94%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC increased their price objective on shares of Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and boosted their target price for the company from $44.00 to $55.00 in a research report on Tuesday, January 21st. Finally, TD Cowen raised Genpact from a “hold” rating to a “buy” rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.44.

Genpact Company 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.