BlackRock Inc. boosted its position in Genpact Limited (NYSE:G) by 17.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,496,584 shares of the business services provider’s stock after acquiring an additional 1,431,928 shares during the quarter. BlackRock Inc. owned 5.01% of Genpact worth $334,091,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in G. Vanguard Group Inc grew its position in Genpact by 0.4% in the third quarter. Vanguard Group Inc now owns 12,373,412 shares of the business services provider’s stock valued at $378,750,000 after acquiring an additional 52,109 shares during the period. BB&T Securities LLC grew its position in Genpact by 4.3% in the fourth quarter. BB&T Securities LLC now owns 84,664 shares of the business services provider’s stock valued at $2,285,000 after acquiring an additional 3,528 shares during the period. CIBC Private Wealth Group LLC grew its position in Genpact by 4.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,573 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 454 shares during the period. Stevens Capital Management LP grew its position in Genpact by 31.3% in the fourth quarter. Stevens Capital Management LP now owns 50,866 shares of the business services provider’s stock valued at $1,373,000 after acquiring an additional 12,117 shares during the period. Finally, Westpac Banking Corp bought a new stake in Genpact in the fourth quarter valued at $3,989,000. 93.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Heather White sold 1,058 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $36.08, for a total value of $38,172.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bain Capital Investors Llc sold 8,500,194 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $36.01, for a total value of $306,091,985.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,284,683 shares of company stock valued at $370,247,491. Corporate insiders own 1.86% of the company’s stock.
A number of research firms have commented on G. ValuEngine raised Genpact from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Zacks Investment Research lowered Genpact from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 price objective on shares of Genpact in a research note on Sunday, March 3rd. Wells Fargo & Co raised Genpact from a “market perform” rating to an “outperform” rating and set a $33.25 price objective on the stock in a research note on Friday, March 8th. Finally, Royal Bank of Canada lowered Genpact from an “outperform” rating to a “sector perform” rating and set a $33.50 price objective on the stock. in a research note on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $33.97.
NYSE:G opened at $36.99 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.82. The stock has a market cap of $7.04 billion, a P/E ratio of 23.12, a PEG ratio of 2.03 and a beta of 0.82. Genpact Limited has a 52-week low of $25.48 and a 52-week high of $37.70.
Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.07. The firm had revenue of $809.21 million during the quarter, compared to the consensus estimate of $764.50 million. Genpact had a return on equity of 22.33% and a net margin of 8.91%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, research analysts predict that Genpact Limited will post 1.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Wednesday, June 12th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.34 dividend on an annualized basis and a yield of 0.92%. Genpact’s dividend payout ratio is 21.25%.
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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