NFJ Investment Group LLC Sells 55,642 Shares of Genpact Limited (NYSE:G)

NFJ Investment Group LLC reduced its position in Genpact Limited (NYSE:G) by 8.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 603,561 shares of the business services provider’s stock after selling 55,642 shares during the period. NFJ Investment Group LLC’s holdings in Genpact were worth $23,666,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. HighTower Advisors LLC bought a new position in Genpact during the third quarter worth $232,000. Atom Investors LP acquired a new stake in shares of Genpact during the 3rd quarter worth about $1,695,000. ARGA Investment Management LP boosted its holdings in shares of Genpact by 29.9% during the 3rd quarter. ARGA Investment Management LP now owns 677,504 shares of the business services provider’s stock worth $26,565,000 after buying an additional 155,889 shares during the period. PDT Partners LLC acquired a new position in Genpact in the 3rd quarter valued at about $830,000. Finally, Verition Fund Management LLC raised its holdings in Genpact by 139.2% in the 3rd quarter. Verition Fund Management LLC now owns 26,268 shares of the business services provider’s stock valued at $1,030,000 after acquiring an additional 15,285 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Genpact Price Performance

G remained flat at $46.29 on Tuesday. 143,324 shares of the company traded hands, compared to its average volume of 1,339,885. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.17. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $47.98. The company has a 50 day moving average of $41.31 and a 200-day moving average of $37.10.

Genpact Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.1525 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, December 9th. Genpact’s dividend payout ratio (DPR) is presently 16.76%.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 directly owns 267,404 shares in the company, valued at $12,407,545.60. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

G has been the subject of a number of research analyst reports. Needham & Company LLC boosted their price objective on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group boosted their price target on Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Robert W. Baird lifted their target price on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. BMO Capital Markets upped their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.33.

Genpact Company 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.