Retirement Systems of Alabama Acquires 7,645 Shares of Genpact Limited (NYSE:G)

Retirement Systems of Alabama increased its holdings in Genpact Limited (NYSE:G) by 1.7% in the second quarter, HoldingsChannel reports. The firm owned 449,845 shares of the business services provider’s stock after purchasing an additional 7,645 shares during the period. Retirement Systems of Alabama’s holdings in Genpact were worth $14,481,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of G. EdgeRock Capital LLC acquired a new position in Genpact in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its stake in Genpact by 106.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 471 shares during the period. CWM LLC grew its holdings in Genpact by 160.8% in the 2nd quarter. CWM LLC now owns 952 shares of the business services provider’s stock valued at $31,000 after buying an additional 587 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Genpact during the fourth quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Genpact by 120.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock worth $60,000 after buying an additional 989 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Genpact Trading Up 0.6 %

G stock traded up $0.24 during midday trading on Friday, reaching $39.11. The stock had a trading volume of 851,539 shares, compared to its average volume of 1,400,467. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.60 and a beta of 1.11. Genpact Limited has a twelve month low of $29.41 and a twelve month high of $39.95. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $33.83 and a two-hundred day simple moving average of $33.43.

Genpact Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.1525 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.61 annualized dividend and a dividend yield of 1.56%. Genpact’s payout ratio is currently 17.43%.

Insider Activity

In other news, Director N. V. Tyagarajan sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $33.17, for a total value of $33,170.00. Following the completion of the transaction, the director now owns 7,300 shares of the company’s stock, valued at approximately $242,141. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $35.00 target price on shares of Genpact in a research note on Friday, May 10th. BMO Capital Markets lifted their price objective on Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upgraded Genpact from an “underweight” rating to a “neutral” rating and cut their target price for the company from $43.00 to $40.00 in a research note on Wednesday, July 17th. TD Cowen lifted their target price on shares of Genpact from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Needham & Company LLC raised their price target on shares of Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Genpact has an average rating of “Hold” and an average target price of $38.25.

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.