Genpact Limited (G) Holdings Reduced by First Trust Advisors LP
First Trust Advisors LP lowered its stake in Genpact Limited (NYSE:G) by 71.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,190 shares of the business services provider’s stock after selling 300,649 shares during the quarter. First Trust Advisors LP’s holdings in Genpact were worth $3,190,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of G. PNC Financial Services Group Inc. lifted its position in shares of Genpact by 108.9% during the third quarter. PNC Financial Services Group Inc. now owns 3,887 shares of the business services provider’s stock worth $120,000 after purchasing an additional 2,026 shares in the last quarter. Sit Investment Associates Inc. lifted its position in shares of Genpact by 19.5% during the fourth quarter. Sit Investment Associates Inc. now owns 5,675 shares of the business services provider’s stock worth $153,000 after purchasing an additional 925 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Genpact by 67.0% during the fourth quarter. First Hawaiian Bank now owns 5,968 shares of the business services provider’s stock worth $161,000 after purchasing an additional 2,395 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Genpact during the fourth quarter worth about $164,000. Finally, Toronto Dominion Bank lifted its position in shares of Genpact by 17,596.8% during the third quarter. Toronto Dominion Bank now owns 5,486 shares of the business services provider’s stock worth $168,000 after purchasing an additional 5,455 shares in the last quarter. 89.22% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on G. Zacks Investment Research cut shares of Genpact from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. JPMorgan Chase & Co. raised shares of Genpact from an “underweight” rating to a “neutral” rating and raised their target price for the company from $30.00 to $32.00 in a report on Monday, December 17th. Morgan Stanley raised shares of Genpact from an “underweight” rating to an “overweight” rating and raised their target price for the company from $28.50 to $33.00 in a report on Tuesday, January 15th. Bank of America raised shares of Genpact from an “underperform” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, February 6th. Finally, Royal Bank of Canada cut shares of Genpact from an “outperform” rating to a “sector perform” rating and set a $33.50 target price on the stock. in a report on Tuesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $33.97.
Shares of NYSE:G opened at $33.91 on Friday. The company has a market capitalization of $6.39 billion, a P/E ratio of 21.19, a PEG ratio of 1.76 and a beta of 0.87. Genpact Limited has a fifty-two week low of $25.48 and a fifty-two week high of $34.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.39 and a current ratio of 1.39.
Genpact (NYSE:G) last issued its earnings results on Thursday, February 7th. The business services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The firm had revenue of $835.34 million for the quarter, compared to analysts’ expectations of $810.98 million. Genpact had a net margin of 9.40% and a return on equity of 23.24%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. As a group, analysts predict that Genpact Limited will post 1.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Friday, March 8th will be issued a $0.085 dividend. This is a boost from Genpact’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, March 7th. This represents a $0.34 annualized dividend and a yield of 1.00%. Genpact’s dividend payout ratio (DPR) is 21.25%.
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Genpact Company Profile
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; over-the counter 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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