Genpact Limited (G) Shares Sold by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. cut its stake in Genpact Limited (NYSE:G) by 44.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,400 shares of the business services provider’s stock after selling 25,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Genpact Limited were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in G. BlackRock Inc. boosted its holdings in shares of Genpact Limited by 2,636.7% in the first quarter. BlackRock Inc. now owns 7,680,410 shares of the business services provider’s stock valued at $190,169,000 after buying an additional 7,399,767 shares during the period. Hahn Capital Management LLC boosted its holdings in shares of Genpact Limited by 2,613.3% in the first quarter. Hahn Capital Management LLC now owns 933,386 shares of the business services provider’s stock valued at $23,111,000 after buying an additional 898,986 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Genpact Limited in the first quarter valued at approximately $19,870,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Genpact Limited in the first quarter valued at approximately $19,515,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Genpact Limited in the first quarter valued at approximately $19,515,000. 92.16% of the stock is owned by institutional investors.

Several research analysts recently commented on G shares. BMO Capital Markets increased their target price on shares of Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, August 3rd. BidaskClub cut shares of Genpact Limited from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 16th. Robert W. Baird restated an “outperform” rating and set a $34.00 target price on shares of Genpact Limited in a report on Wednesday, August 16th. Zacks Investment Research raised shares of Genpact Limited from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, August 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Genpact Limited in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.86.

Shares of Genpact Limited (NYSE G) opened at 28.08 on Monday. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 21.21 and a beta of 0.50. The firm’s 50-day moving average is $28.67 and its 200 day moving average is $26.60. Genpact Limited has a 52-week low of $22.58 and a 52-week high of $31.93.

Genpact Limited (NYSE:G) last posted its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.10. The firm had revenue of $670.70 million for the quarter, compared to the consensus estimate of $642.68 million. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. On average, equities research analysts anticipate that Genpact Limited will post $1.56 earnings per share for the current year.

The business also recently declared a special dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, September 8th will be issued a $0.06 dividend. This represents a dividend yield of 0.84%. The ex-dividend date is Thursday, September 7th. Genpact Limited’s dividend payout ratio (DPR) is currently 18.05%.

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In related news, insider Private Ltd Gic sold 1,501,126 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $43,112,338.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Bain Capital Investors Llc sold 8,498,874 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $28.72, for a total value of $244,087,661.28. The disclosure for this sale can be found here. Insiders sold a total of 10,358,442 shares of company stock worth $297,475,276 over the last three months. 1.55% of the stock is owned by insiders.

Genpact Limited Company Profile

Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.

Institutional Ownership by Quarter for Genpact Limited (NYSE:G)

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