Groesbeck Investment Management Corp NJ Takes $212,000 Position in Genpact Limited (NYSE:G)

Groesbeck Investment Management Corp NJ purchased a new stake in shares of Genpact Limited (NYSE:G) during the fourth quarter, Holdings Channel reports. The fund purchased 4,938 shares of the business services provider’s stock, valued at approximately $212,000.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in shares of Genpact by 55.7% during the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 433 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Genpact by 74.6% during the third quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 1,121 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Genpact by 221.3% during the third quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 2,293 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Genpact by 17.0% in the fourth quarter. Versant Capital Management Inc now owns 3,178 shares of the business services provider’s stock worth $136,000 after acquiring an additional 461 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Genpact by 22.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,378 shares of the business services provider’s stock worth $145,000 after acquiring an additional 619 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Trading Up 0.9 %

NYSE G opened at $49.37 on Wednesday. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.61 and a beta of 1.20. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a 52 week low of $30.23 and a 52 week high of $49.47. The business has a 50 day moving average price of $44.80 and a 200-day moving average price of $41.04.

Genpact (NYSE:G) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Genpact had a return on equity of 21.85% and a net margin of 14.22%. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, equities analysts expect that Genpact Limited will post 2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on G shares. TD Cowen lifted their target price on Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Needham & Company LLC lifted their target price on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $55.00 in a report on Tuesday, January 21st. Finally, Robert W. Baird lifted their target price on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.50.

Insiders Place Their Bets

In other news, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $44.60, for a total transaction of $606,560.00. Following the completion of the transaction, the chief executive officer now owns 267,404 shares in the company, valued at approximately $11,926,218.40. This represents a 4.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction on 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 owns 151,182 shares of the company’s stock, valued at $6,475,125.06. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,058 shares of company stock valued at $1,558,675. Insiders own 2.80% of the company’s stock.

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.