Assenagon Asset Management S.A. Acquires 14,169 Shares of Genpact Limited $G

Key Points

• Assenagon Asset Management S.A. raised its stake in Genpact Limited by 29.8% during Q2, acquiring an additional 14,169 shares, bringing its total holdings to 61,721 shares valued at approximately $2.716 million.
• Genpact reported a quarterly earnings per share of $0.88, beating analysts' expectations, with a revenue of $1.25 billion for the quarter, an increase of 6.6% year-over-year.
• The company recently declared a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 1.6%, with a payout ratio of 22.59%.

Assenagon Asset Management S.A. raised its stake in Genpact Limited (NYSE:G - Free Report) by 29.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,721 shares of the business services provider's stock after acquiring an additional 14,169 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Genpact were worth $2,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cornerstone Planning Group LLC bought a new position in shares of Genpact in the 1st quarter valued at $27,000. Richardson Financial Services Inc. bought a new position in Genpact during the 1st quarter worth $35,000. SVB Wealth LLC bought a new position in Genpact during the 1st quarter worth $41,000. Kestra Investment Management LLC bought a new position in Genpact during the 1st quarter worth $56,000. Finally, Global X Japan Co. Ltd. bought a new position in Genpact during the 1st quarter worth $57,000. Institutional investors own 96.03% of the company's stock.

Genpact Price Performance

G opened at $41.81 on Friday. The firm has a market cap of $7.29 billion, a P/E ratio of 13.89, a PEG ratio of 1.47 and a beta of 0.92. The firm has a 50-day moving average of $43.79 and a 200 day moving average of $45.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 1.53. Genpact Limited has a fifty-two week low of $37.82 and a fifty-two week high of $56.76.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The business services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.03. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Genpact had a return on equity of 22.15% and a net margin of 10.92%.Genpact's revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. Genpact has set its FY 2025 guidance at 3.510-3.580 EPS. Q3 2025 guidance at 0.890-0.900 EPS. On average, research analysts expect that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, September 11th. Genpact's dividend payout ratio (DPR) is presently 22.59%.

Analysts Set New Price Targets

Several research analysts have issued reports on G shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Genpact in a report on Thursday, July 17th. They set a "hold" rating and a $47.00 price target for the company. Mizuho lifted their target price on Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Needham & Company LLC lifted their target price on Genpact from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wall Street Zen downgraded Genpact from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Genpact from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $52.29.

Insider Buying and Selling

In other news, SVP Piyush Mehta sold 76,902 shares of Genpact stock in a transaction on Friday, September 12th. The shares were sold at an average price of $42.58, for a total transaction of $3,274,487.16. Following the completion of the sale, the senior vice president directly owned 134,880 shares of the company's stock, valued at approximately $5,743,190.40. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Balkrishan Kalra sold 55,000 shares of Genpact stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $43.36, for a total transaction of $2,384,800.00. Following the sale, the chief executive officer directly owned 295,246 shares of the company's stock, valued at $12,801,866.56. This represents a 15.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by company insiders.

About Genpact

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.