JLB & Associates Inc. increased its position in shares of Genpact Limited (NYSE:G) by 53.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,631 shares of the business services provider’s stock after buying an additional 8,929 shares during the quarter. JLB & Associates Inc.’s holdings in Genpact were worth $998,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in G. Advisor Group Holdings Inc. bought a new position in Genpact in the 1st quarter worth approximately $1,224,000. Strs Ohio grew its holdings in Genpact by 7.3% in the second quarter. Strs Ohio now owns 32,904 shares of the business services provider’s stock worth $1,201,000 after purchasing an additional 2,241 shares during the period. Raymond James & Associates grew its holdings in Genpact by 111.2% in the second quarter. Raymond James & Associates now owns 69,831 shares of the business services provider’s stock worth $2,550,000 after purchasing an additional 36,764 shares during the period. Comerica Bank grew its holdings in shares of Genpact by 55.1% during the second quarter. Comerica Bank now owns 80,196 shares of the business services provider’s stock valued at $3,144,000 after buying an additional 28,499 shares during the last quarter. Finally, O Shares Investment Advisers LLC acquired a new position in shares of Genpact during the second quarter valued at about $1,767,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.
NYSE G traded down $0.37 on Friday, hitting $38.41. 452,013 shares of the stock were exchanged, compared to its average volume of 1,278,859. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a fifty day moving average price of $39.30 and a two-hundred day moving average price of $36.60. The firm has a market capitalization of $7.33 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.63 and a beta of 1.22. Genpact Limited has a 52-week low of $19.41 and a 52-week high of $45.20.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Friday, September 11th were paid a dividend of $0.097 per share. This represents a $0.39 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, September 10th. Genpact’s payout ratio is 25.00%.
A number of research firms recently weighed in on G. Needham & Company LLC reissued a “buy” rating and set a $48.00 price target on shares of Genpact in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Genpact from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $44.11.
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; invoice-to-cash 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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