Magnetar Financial LLC Acquires 30,821 Shares of Genpact Limited (NYSE:G)

Magnetar Financial LLC increased its stake in shares of Genpact Limited (NYSE:G) by 46.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,560 shares of the business services provider’s stock after acquiring an additional 30,821 shares during the quarter. Magnetar Financial LLC owned about 0.05% of Genpact worth $3,182,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of G. Parallel Advisors LLC grew its holdings in shares of Genpact by 22.6% during the 4th quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock worth $65,000 after purchasing an additional 347 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Genpact by 16.0% in the 4th quarter. Lindbrook Capital LLC now owns 3,020 shares of the business services provider’s stock valued at $105,000 after buying an additional 416 shares during the period. Cloverfields Capital Group LP raised its stake in shares of Genpact by 1.5% in the 1st quarter. Cloverfields Capital Group LP now owns 28,950 shares of the business services provider’s stock valued at $954,000 after buying an additional 416 shares in the last quarter. Johnson Financial Group Inc. raised its stake in shares of Genpact by 10.4% in the 4th quarter. Johnson Financial Group Inc. now owns 4,800 shares of the business services provider’s stock valued at $167,000 after buying an additional 452 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Genpact by 106.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock worth $32,000 after acquiring an additional 471 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Genpact

In related news, Director N. V. Tyagarajan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total value of $33,170.00. Following the transaction, the director now owns 7,300 shares in the company, valued at $242,141. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

G has been the subject of several recent research reports. Citigroup dropped their price target on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. upgraded Genpact from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $43.00 to $40.00 in a research report on Wednesday, July 17th. BMO Capital Markets lowered their price target on Genpact from $39.00 to $38.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. StockNews.com cut Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Genpact in a report on Friday, May 10th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.63.

Genpact Price Performance

Shares of Genpact stock traded up $0.25 during trading on Friday, reaching $34.36. The company’s stock had a trading volume of 705,472 shares, compared to its average volume of 975,300. Genpact Limited has a one year low of $29.41 and a one year high of $39.33. The stock has a 50-day moving average price of $32.61 and a two-hundred day moving average price of $33.33. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $6.18 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11.

Genpact (NYSE:G) last announced its earnings results on Thursday, May 9th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Genpact had a net margin of 14.21% and a return on equity of 22.71%. As a group, sell-side analysts anticipate that Genpact Limited will post 2.7 EPS for the current fiscal year.

Genpact Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be paid a $0.1525 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.61 annualized dividend and a dividend yield of 1.78%. Genpact’s dividend payout ratio (DPR) is currently 17.43%.

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.