Assetmark Inc. Reduces Position in Genpact Limited (NYSE:G)

Assetmark Inc. decreased its position in shares of Genpact Limited (NYSE:G) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,387 shares of the business services provider’s stock after selling 517 shares during the period. Assetmark Inc.’s holdings in Genpact were worth $211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Genpact by 1.3% during the first quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock worth $565,845,000 after buying an additional 218,526 shares during the period. Dimensional Fund Advisors LP lifted its position in Genpact by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock worth $107,065,000 after acquiring an additional 847,249 shares during the period. Capital International Investors grew its stake in shares of Genpact by 51.8% in the 1st quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock valued at $101,715,000 after purchasing an additional 1,053,236 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in shares of 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 valued at $50,456,000 after purchasing an additional 284,842 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Genpact by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 1,512,259 shares of the business services provider’s stock valued at $48,680,000 after purchasing an additional 122,993 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on G shares. BMO Capital Markets boosted their price target on shares of Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their target price on Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Robert W. Baird raised their price target on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 8th. TD Cowen upped their price objective on Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Needham & Company LLC increased their price objective on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Genpact presently has an average rating of “Hold” and an average target price of $42.33.

Genpact Trading Down 0.7 %

Shares of G opened at $44.79 on Friday. Genpact Limited has a fifty-two week low of $30.23 and a fifty-two week high of $47.98. The company has a market capitalization of $7.98 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The stock has a fifty day moving average of $39.74 and a two-hundred day moving average of $36.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.89 and a current ratio of 1.85.

Genpact Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a $0.1525 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, December 9th. Genpact’s dividend payout ratio (DPR) is currently 16.76%.

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.