Allspring Global Investments Holdings LLC Decreases Stock Position in Genpact Limited (NYSE:G)

Allspring Global Investments Holdings LLC lessened its position in shares of Genpact Limited (NYSE:G) by 85.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,243 shares of the business services provider’s stock after selling 680,222 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Genpact worth $4,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its stake in Genpact by 103,311.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,937,889 shares of the business services provider’s stock valued at $228,723,000 after buying an additional 4,933,114 shares in the last quarter. Capital International Investors raised its stake in shares of Genpact by 101.8% during the 1st quarter. Capital International Investors now owns 3,963,229 shares of the business services provider’s stock valued at $172,440,000 after purchasing an additional 1,999,617 shares during the period. Norges Bank bought a new stake in shares of Genpact during the 4th quarter valued at $81,569,000. FMR LLC boosted its stake in Genpact by 8.1% in the 3rd quarter. FMR LLC now owns 17,644,694 shares of the business services provider’s stock worth $638,738,000 after purchasing an additional 1,327,435 shares during the period. Finally, Millennium Management LLC grew its holdings in Genpact by 416.0% during the 4th quarter. Millennium Management LLC now owns 918,348 shares of the business services provider’s stock valued at $42,538,000 after buying an additional 740,389 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Activity at Genpact

In other news, SVP Heather White sold 11,450 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $36.00, for a total transaction of $412,200.00. Following the completion of the sale, the senior vice president now directly owns 21,175 shares in the company, valued at $762,300. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Genpact Stock Performance

NYSE G opened at $31.57 on Friday. The company has a 50-day simple moving average of $33.61 and a two-hundred day simple moving average of $34.31. Genpact Limited has a 12-month low of $29.41 and a 12-month high of $44.96. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 1.43 and a beta of 1.07. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.37.

Genpact (NYSE:G) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Genpact had a return on equity of 23.19% and a net margin of 14.10%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. On average, equities analysts forecast that Genpact Limited will post 2.7 EPS for the current year.

Genpact Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Monday, March 11th were paid a $0.153 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.94%. This is an increase from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, March 8th. Genpact’s payout ratio is presently 17.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Genpact in a report on Friday, February 9th. Citigroup lifted their price target on Genpact from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Finally, Mizuho initiated coverage on shares of Genpact in a research report on Tuesday, January 30th. They set a “neutral” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.11.

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.