ING Groep NV Takes $2.87 Million Position in Genpact Limited (NYSE:G)

ING Groep NV purchased a new position in shares of Genpact Limited (NYSE:G) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 73,300 shares of the business services provider’s stock, valued at approximately $2,874,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Genpact by 160.8% in the second quarter. CWM LLC now owns 952 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 587 shares during the period. Versant Capital Management Inc grew its position in Genpact by 4,717.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock worth $70,000 after purchasing an additional 2,123 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Genpact by 54.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,797 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 984 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Genpact by 74.6% in the third quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after buying an additional 1,121 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Genpact by 221.3% during the third quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock worth $131,000 after buying an additional 2,293 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Jefferies Financial Group increased their price target on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Needham & Company LLC boosted their price objective on shares of Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their target price 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. Finally, TD Cowen boosted their price target on shares of Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.33.

Genpact Stock Down 0.7 %

Shares of NYSE G opened at $44.79 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $39.74 and a 200 day moving average price of $36.06. Genpact Limited has a 52 week low of $30.23 and a 52 week high of $47.98. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13.

Genpact Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be issued a $0.1525 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, December 9th. Genpact’s dividend payout ratio 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.