Genpact (NYSE:G) Stock Price Down 7.2% – Here’s What Happened

Genpact Limited (NYSE:G)’s stock price dropped 7.2% on Thursday . The stock traded as low as $27.37 and last traded at $28.1150. Approximately 484,921 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,514,898 shares. The stock had previously closed at $30.31.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of Genpact from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Robert W. Baird decreased their target price on shares of Genpact from $54.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Genpact in a report on Friday, May 8th. Susquehanna dropped their price target on Genpact from $42.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Genpact in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.29.

Genpact Trading Down 0.1%

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average is $32.90 and its 200-day moving average is $39.11. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.80 and a beta of 0.58.

Genpact (NYSE:G) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $0.98 earnings per share for the quarter. The business had revenue of $1.30 billion during the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. Research analysts anticipate that Genpact Limited will post 3.64 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a $0.1875 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.7%. Genpact’s dividend payout ratio is currently 23.01%.

Institutional Investors Weigh In On Genpact

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in shares of Genpact by 40.7% in the 1st quarter. Pacer Advisors Inc. now owns 765,204 shares of the business services provider’s stock valued at $28,504,000 after purchasing an additional 221,536 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Genpact by 12.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,369 shares of the business services provider’s stock worth $535,000 after purchasing an additional 1,622 shares during the period. Glenmede Trust Co. NA increased its position in shares of Genpact by 41.4% during the 1st quarter. Glenmede Trust Co. NA now owns 151,155 shares of the business services provider’s stock worth $5,631,000 after purchasing an additional 44,292 shares during the last quarter. Access Investment Management LLC increased its position in shares of Genpact by 2.3% during the 1st quarter. Access Investment Management LLC now owns 252,522 shares of the business services provider’s stock worth $9,406,000 after purchasing an additional 5,747 shares during the last quarter. Finally, Essential Partners LLC increased its position in shares of Genpact by 10.6% during the 1st quarter. Essential Partners LLC now owns 10,214 shares of the business services provider’s stock worth $380,000 after purchasing an additional 979 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

About Genpact

Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.

Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.

Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.