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Highlight
- State of New Jersey Common Pension Fund D acquired 47,268 shares of Genpact Limited (NYSE:G) valued at approximately $2,030,000 in the fourth quarter.
- Recent insider transactions include sales by SVP Piyush Mehta and CEO Balkrishan Kalra.
- Genpact declared an increased quarterly dividend of $0.17, marking a positive change from its prior dividend payout.
In the fourth quarter, State of New Jersey Common Pension Fund D acquired a new position in Genpact Limited (NYSE:G), purchasing 47,268 shares valued at approximately $2,030,000. Other institutional movements include Creative Planning increasing its stake by 19.4% and Ballentine Partners LLC boosting its holdings by 38.1% in the third quarter. Institutional investors currently own 96.03% of Genpact's stock.
Concerning insider transactions, SVP Piyush Mehta sold 12,000 shares of Genpact at an average price of $42.83, reducing their ownership by 7.35%. CEO Balkrishan Kalra also sold 13,600 shares at an average price of $44.60, representing a 4.84% decrease in his position. Both transactions were duly filed with the SEC.
Stock Performance Overview
Genpact's stock opened at $53.21 on a recent Monday, reflecting a 12-month range between $30.23 and $56.76. With a market cap of $9.38 billion and a PE ratio of 18.73, the company demonstrates robust financial health. Key financial metrics include a current ratio of 2.16 and a quick ratio of 1.85. The company also reported earnings results with a quarterly EPS of $0.82, slightly below analysts’ estimates.
Dividend and Analysts' Perspective
Genpact's board recently declared a quarterly dividend of $0.17 per share, marking a favorable step up from the previous payout. The ex-dividend date is scheduled for March 11th, and the dividend yield approximates 1.28% annually. Genpact’s dividend payout ratio currently stands at 23.94%.
Analyst coverage for Genpact has seen developments with Jefferies Financial Group upgrading the stock from “hold” to “buy” and increasing the price objective from $44.00 to $55.00. While six analysts rated the stock as "hold," four assigned a "buy" recommendation. The consensus price target for Genpact is $48.44.
Genpact Limited is an esteemed provider of business process outsourcing and IT services. Operating through segments like Financial Services, Consumer and Healthcare, and High Tech and Manufacturing, Genpact delivers a range of services including customer service, loan operations, compliance services, and more across various global regions.
