Bank of Montreal Can Sells 7,455 Shares of Genpact Limited (NYSE:G)

Bank of Montreal Can lowered its stake in shares of Genpact Limited (NYSE:G) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 314,943 shares of the business services provider’s stock after selling 7,455 shares during the quarter. Bank of Montreal Can’s holdings in Genpact were worth $12,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Genpact by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock worth $107,065,000 after purchasing an additional 847,249 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Genpact by 130.3% during the 2nd quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider’s stock worth $37,465,000 after acquiring an additional 658,560 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Genpact during the 3rd quarter valued at $19,779,000. Tandem Investment Advisors Inc. bought a new position in Genpact in the 3rd quarter valued at $17,025,000. Finally, Vulcan Value Partners LLC increased its stake in Genpact by 22.2% in the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock worth $50,456,000 after purchasing an additional 284,842 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling at Genpact

In related news, CEO Balkrishan Kalra sold 9,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.40, for a total transaction of $417,600.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares of the company’s stock, valued at $12,407,545.60. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is owned by insiders.

Genpact Stock Down 0.7 %

Genpact stock opened at $46.16 on Monday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a market cap of $8.14 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.59 and a beta of 1.13. The business has a fifty day moving average of $41.17 and a two-hundred day moving average of $37.02. Genpact Limited has a twelve month low of $30.23 and a twelve month high of $47.98.

Genpact Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a dividend of $0.1525 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Monday, December 9th. Genpact’s payout ratio is currently 16.76%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Needham & Company LLC upped their target price on shares of Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Jefferies Financial Group lifted their price target on shares of Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, TD Cowen lifted their target price on Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.33.

Genpact 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.