Teachers Retirement System of The State of Kentucky Sells 1,450 Shares of Genpact Limited (NYSE:G)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Genpact Limited (NYSE:G) by 2.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 53,990 shares of the business services provider’s stock after selling 1,450 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Genpact were worth $2,117,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of G. Advisors Asset Management Inc. increased its stake in Genpact by 3.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,885 shares of the business services provider’s stock valued at $270,000 after buying an additional 226 shares during the last quarter. Lecap Asset Management Ltd. lifted its holdings in Genpact by 2.1% during the third quarter. Lecap Asset Management Ltd. now owns 18,059 shares of the business services provider’s stock worth $708,000 after acquiring an additional 364 shares during the period. Suncoast Equity Management boosted its position in Genpact by 3.1% in the third quarter. Suncoast Equity Management now owns 12,600 shares of the business services provider’s stock worth $494,000 after purchasing an additional 375 shares during the last quarter. Sawyer & Company Inc grew its stake in Genpact by 1.1% in the 3rd quarter. Sawyer & Company Inc now owns 36,243 shares of the business services provider’s stock valued at $1,421,000 after purchasing an additional 400 shares during the period. Finally, United Services Automobile Association increased its position in shares of Genpact by 3.3% during the 2nd quarter. United Services Automobile Association now owns 13,388 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 433 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Genpact Stock Down 2.3 %

Genpact stock opened at $43.64 on Tuesday. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.56 and a beta of 1.18. The firm has a 50 day simple moving average of $42.46 and a 200 day simple moving average of $37.89. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $47.98. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50.

Genpact Dividend Announcement

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 paid a dividend of $0.1525 per share. The ex-dividend date is Monday, December 9th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.40%. Genpact’s payout ratio is 16.76%.

Insider Buying and Selling

In other news, CEO Balkrishan Kalra sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.40, for a total value of $417,600.00. Following the completion of the transaction, the chief executive officer now directly owns 267,404 shares in the company, valued at approximately $12,407,545.60. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on G shares. Needham & Company LLC increased their price target on shares of Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group increased their target price on shares of Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, September 9th. TD Cowen raised 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. JPMorgan Chase & Co. upped their price objective on Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their target price on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Genpact currently has an average rating of “Hold” and an average target price of $42.33.

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.