New York State Common Retirement Fund Has $15.54 Million Position in Genpact Limited (NYSE:G)

New York State Common Retirement Fund raised its holdings in Genpact Limited (NYSE:G) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 447,766 shares of the business services provider’s stock after buying an additional 70,172 shares during the period. New York State Common Retirement Fund owned 0.25% of Genpact worth $15,542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in G. Covestor Ltd increased its stake in Genpact by 140.2% in the 3rd quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock valued at $56,000 after buying an additional 904 shares during the last quarter. Buck Wealth Strategies LLC increased its stake in shares of Genpact by 438.3% during the 3rd quarter. Buck Wealth Strategies LLC now owns 1,825 shares of the business services provider’s stock worth $66,000 after purchasing an additional 1,486 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Genpact by 32.0% during the 3rd quarter. Lindbrook Capital LLC now owns 2,604 shares of the business services provider’s stock worth $94,000 after purchasing an additional 632 shares during the last quarter. Flynn Zito Capital Management LLC acquired a new position in shares of Genpact during the 4th quarter worth about $206,000. Finally, PDS Planning Inc acquired a new position in shares of Genpact during the 4th quarter worth about $218,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on G. Mizuho initiated coverage on shares of Genpact in a research note on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price objective on the stock. Citigroup reduced their target price on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Genpact in a report on Friday, February 9th. StockNews.com downgraded shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.78.

Genpact Stock Performance

NYSE G opened at $30.90 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $5.57 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.45 and a beta of 1.07. Genpact Limited has a 12-month low of $29.41 and a 12-month high of $44.63. The firm has a 50-day moving average price of $33.07 and a two-hundred day moving average price of $34.08.

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

Genpact Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were given a $0.153 dividend. The ex-dividend date was Friday, March 8th. This is a boost from Genpact’s previous quarterly dividend of $0.14. This represents a $0.61 annualized dividend and a dividend yield of 1.98%. Genpact’s payout ratio is presently 17.78%.

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.